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An Overview of Consumer Credit Counseling

If you are considering the possibility of doing debt consolidation or consumer credit counseling, then do it under the federal system so that it is supervised by a federal judge and an independent, impartial, bonded, case trustee. Further, consumer credit counseling outside of the bankruptcy court requires repayment at 100%. [expand]Consumer credit counseling through the bankruptcy court does not require repayment at 100% plus interest. Consumer credit counseling outside the federal system requires interest. [/expand]Consumer credit counseling through the federal system normally does not require interest. Further, Consumer credit counseling outside of the federal system does not always stop late fees or harassing telephone calls. Consumer credit counseling through the federal systems always stops late fees and always stops harassing telephone calls. Get real debt relief with the protection of the federal bankruptcy court .

I have had numerous clients go to consumer credit counseling services only to find out that:

1. The monthly payment is too high

2. The credit card companies refused lower interest rates

3. The credit card companies continued to charge late payments and over the limit fees

4. Their payments were not timely paid to creditors; therefore, additional charges applied to the account.

5. The payments were not accounted for properly and distributed to creditors. (ie: defrauded their clients)Furthermore, even legitimate consumer credit counseling services are paid for and funded by “kick backs” from the credit card companies. The bottom line is that consumer credit counseling does not work, and they have a “conflict of interest” by accepting a fee from you and also the credit card companies.

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