Tuesday, October 28, 2008

Looking For Non Profit Credit Counseling Service?

By Don Pedro

What you learn from credit counseling is something that will help you through the rest of your life, and you need to face up to that. This in not about someone taking your willpower from you, or keeping you from making choices of your own. It is about empowering you with the confidence to make the right choices and standing by them.

It's just too bad that some folks think that credit counseling is just another way for people to make money off of you. This is not accurate. Yes, you get to pay the counselor, but you also get to learn some valuable lessons about life; lessons like knowing when to take credit and when to leave well alone.

All of those big dudes that drive around the neighborhood in limos and Ferraris, it isn't because they're all that smart. It's because they got some great credit counselors working for them. You can also make very smart financial decisions if you have good credit counselors working to help you make the right borrowing and investment advice.

There are some basic things that happen all around us to which we are oblivious. It is not for want of interest of capacity to observe, it is simply for lack of time. Credit counselors study the trends of economics and feed you what you need to learn about creditors. There is no way that is not helpful.

A DMP is a debt management plan, one that you can get from a credit counselor. One of its most common benefits is that it helps clarify monthly paybacks to people or financial institutions that you have borrowed from. It's almost like turning them into banks, making them realize they can make all their money back, and they don't have to hound you in the process.

Credit grantors created The National Foundation for Credit Counseling, or NFCC, back in 1951. Perhaps it was because they saw that people were getting sunk in debts and they were also losing. In any case, good credit counseling works well for both parties involved, the credit grantor included.

Do you know that you can be paying your credit bank an interest rate that approaches a disturbing 30%? Yes, when you have a defaulted credit card. But you can do it such that they would drop their interests to as low as 10%, or even 5%. Yes, you can have a credit counselor look at the situation of things and get to work with you.

One great way to get reduced interest rates on money you borrow from a credit bank is to have a debt management plan. One great way to get a debt management plan is to have a credit counselor do it for you. And that is the trick to getting rich. - 15485

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