Please don’t accept advice from amateurs. If you’re in the red, you’ll want to speak with a licensed credit counseling service.
We can easily match you with a credit counseling specialist based on:
- Your Location
- What You Owe
For your free credit counseling consultation, you can just fill out this easy online form. It’s fast, simple, and free.
Prestonsburg (KY) Credit Counseling Basics
For residents of Prestonsburg, credit counseling is often the lowest priced option. Of Prestonsburg’s 12,343 consumers, it’s estimated that 455 could benefit from credit counseling.
Typically, Prestonsburg residents earn $1,955 on a monthly basis. A consumer who makes this much ought to have debts of approximately $704 on a monthly basis. This is 36 percent of their income.
If your monthly debts add up to more than 43% of your earnings, you are struggling. If you make $1,955, the average in Prestonsburg, we’re talking about only $841. You wouldn’t be on your own, as many of Prestonsburg’s consumers have DTI’s of more than 50% ($978).
If you have serious debt, your credit counseling professional could very well want you to sign up for a debt management program (DMP). A DMP is a method of debt consolidation, because your credit card, loan, and other debt payments will be consolidated into one monthly payment. However, there is no loan involved.
Your credit counseling service will address payment to the credit card companies each month. The only thing you’ll have to do is provide them with a single payment amount.
Normally, debt management programs aim to have out of debt in less than five years, oftentimes less. Your credit ranking shouldn’t decrease, but it is usually difficult to get new a line of credit. On the other hand, if you were to choose a debt settlement program, your credit rating would probably be significantly impaired. While a Prestonsburg, KY debt consolidation loan may keep your credit ratings from falling, these sorts of loans are perilous because being overdue on your payments could allow your finance company to take the property you used as collateral for the loan. For the majority of individuals, this is their house.
Avoiding Credit Counseling Shams: Prestonsburg, KY
As a program, credit counseling has been checked out by the FTC and other governmental regulators. But professional credit counselors typically offer up:
- Certified Counselors
- Real References
- Potential Non-Profit Status
- Direct Responses to Your Inquiries
- Gratis Counseling Sessions (DMP’s do have fees each month)
For details, check out this FTC report on the subject.
You should never choose a credit counselor that you can’t put your confidence in. We want to help you find the right Prestonsburg credit counseling company.
Although credit counseling does not include any debt forgiveness, you can save a lot of money with decreased interest and lower penalty charges. Ready to determine how much credit counseling in Prestonsburg, KY, can save you?
Non-Profit Credit Counseling Service in Prestonsburg, KY
In Prestonsburg CCCS, an abbreviation for Consumer Credit Counseling Service, may provide reasonably priced credit counseling for Prestonsburg families. In Prestonsburg, Kentucky, a Consumer Credit Counseling Service will usually be a nonprofit agency which uses an NFCC membership seal. In most cases a CCCS firm will supply not just non profit credit counseling, but also Prestonsburg bankruptcy credit counseling, financial courses, and housing counseling.
To discover the CCCS office closest to Prestonsburg, KY, reference the directory of services we offer or head over to www.debtadvice.org.
Credit Counseling and Debt Counseling Agencies: Prestonsburg (KY)
- KY Credit Counseling Service? Contact us!