Saturday, February 16, 2013
Why pay a fee for credit counseling when you can do it yourself?
Do it yourself credit counseling: Why pay extra to have some else pay your bills using the saving to get you ahead in life.
The basic truth is that credit counseling is nothing more than a pre-negotiated agreement between the lender and the counselors’. So what this means for you? One can call or write your lender and can ask for a hardship department which most banks and credit card companies will have these internal departments. Most lenders can offer you a hardship program, which will often lower your interest and payments. In most cases, this can be done over the phone. This simple task can save you a lot of money in the 5-year program, even at $25 per month over 5 years that will come to $1,500 for the fees the credit counseling charges their customers.
The credit counselors will give you some basic advice on how to budget and save some expensive. This information can be found on my blog for free. http://columbusfinancialcoach.blogspot.com/2012/12/do-it-yourself-financial-planning-in-15.html
What if you’re too scared and nevus to call? One has two choices of using mail or email or elects to have someone that you trust to be your authorized third party. The lender can supply you with the required forms. You can hire a financial coach to help you set automatic bill payments and to negotiate a settlement. My fee will be far less than $1,500 charged by the credit counseling organizations.
Even, if is it gone to a third-party collection agent, or a lawsuit has been filed against you. There is always a chance to negotiate a settlement. The collection agent or law office still has to still collect the money, this means additional time and expenses.
Never give anyone the chances to gain a default judgment against you. Too often collections agents and questionable law offices often try to get the default judgment even if they do not have a full case against you. If being sued one still can make a settlement, and/or show up to court on the date given even if you cannot afford a lawyer you can self-represent and ask the judge to look through the evidence against you, to ensure they have a case.
More about the author Derek P. Bliedung has over 10 years experience in the financial services industry and inducing over 90 books read in the area of financial planning, investing, marketing, leadership, & law of Attraction. I am now expending the Columbus Financial to include success coaching, and Reiki energy healing, working in the area of Central Ohio and Miami Valley Ohio (Dayton area). After staring this in 2011, not being spiritual. I have decided to bring the healing power of energy work with financial and success coaching. I also use the 3 pillars of success model that combines the physical, mental, and spiritual as a very powerful tool in healing and to aid one in became successful in life.