What if someone could decrease your interest levels and reduce calls from collectors? Here at KY Debt Relief, we match our consumers with approved credit counseling specialists in Versailles, KY.
While having your credit repaired results in elevated credit ratings relatively speedily, credit counseling is centered on relief from debt.
Do You Need Debt Counseling in Versailles, KY?
Your debt to income ratio helps to evaluate if you need credit counseling. Consider a few statistics based on a salary of $27,208 per annum, Versailles’s average:
- $816 (36%): Perfect
- $839 to $952 (37-42%): Decent
- $975 to $1,134 (43-50%): Risky
- $1,134 or more (50%): Extreme
Debt Management in Versailles, KY
If you have substantial debt, your credit counselor may recommend that you enroll in a debt management program or DMP. As part of a DMP, your Versailles KY credit counseling agency may able to get less expensive interest levels and better terms from your credit card companies.
Basically, your credit counselor will deal with your creditors personally.
Defending Yourself Against Credit Counseling Shams in Versailles (KY)
If you are dealing with an established firm, credit counseling can be an attractive alternative to bankruptcy. Actually, the Federal Trade Commission now requires it for those filing bankruptcy not only in Kentucky, but countrywide, but you must confirm that any credit counselor you work with in Versailles, KY, is a good one. This can be done in a number of ways, including reviewing their customer reviews, looking at their official certification status, and looking at their BBB reviews.
To learn more, check out this FTC write-up on the topic.
With credit counseling, you pay off 100% of your debt. Thankfully, your credit counselor can usually make a deal for reduced rates of interest and fees. Want to determine how soon credit counseling could help you clear your debt?
Post-Bankruptcy and Credit Counseling: Versailles (KY)
The financial crisis was an issue for everyone, and bankruptcies have become rampant in Versailles and across Kentucky. It’s estimated that 138 of Versailles’s 27,782 residents have resorted to bankruptcy.
As dictated by law, you must sign up for a pre-bankruptcy Versailles credit counseling program prior to declaring yourself bankrupt. The program must be within 180 days of when you file.
You can complete the program:
- In Person
- By Telephone
Typically, taking part in consumer credit counseling post-bankruptcy is likewise necessary.
Non-Profit Credit Counseling Service: Versailles, KY
In Versailles, KY, CCCS, an abbreviation for Consumer Credit Counseling Service, may provide nonprofit credit counseling for local individuals. In Versailles, Kentucky, a Consumer Credit Counseling Service will generally be:
- Not For Profit
- Member of the National Foundation for Credit Counseling (NFCC)
- Certified by the HUD (Department of Housing and Urban Development)
- Member of the BBB
Often a CCCS agency will provide:
- Bankruptcy Counseling
- Housing Counseling
- Financial Programs
Remember, not for profit credit counseling in Versailles, KY, doesn’t mean free of cost.
To find the CCCS agency closest to Versailles, KY, please reference the directory of firms on our site. As an alternative, you can browse the National Foundation for Credit Counseling site.
Credit Counseling and Debt Management Agencies: Versailles, KY
- KY Credit Counseling Service? Contact us!