Tips for Using Credit Counseling Effectively

Ultimately, you are responsible for overcoming your financial debt. There are many things that you can do to make sure that choosing debt consolidation can work for you. Clear communication and curbing your spending habits can put you on your way to financial freedom.

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The best way to benefit from credit counseling is to consciously choose clear and honest communication with your counselor. Ask questions and make sure that you understand your credit report, you current debts, and what is expected of you. You are a partner in the process of credit counseling and there are many things that you can do to make sure that the process is a rewarding one.

If you are having challenges with your debts, immediately curb your spending habits and refrain from accumulating new debts. This agreement with yourself is the first step in taking control of your financial life.

Contact your creditors and confirm that they have spoken with your credit counselor and have accepted the proposed plan. Find out exactly what that plan is from your creditor, and compare it in detail with your counseling company.

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Do not stop paying your bills throughout this process. You want to keep your payments on schedule to avoid low credit marks and strengthen your relationship with your creditors. Take the extra step to know without doubt that your debt counseling payment schedule is in alignment with your bill due dates. Paying on time will assist in avoiding late fees and penalties. It is advisable to call each of your creditors on the first of the month to make sure that the agency has paid them on time and that everything is going as planned.

In addition, reviewing your monthly statements with an eagle eye can prove invaluable. If your debt management plan depends on your creditors agreeing to lower or waive interest, finance charges and late fees, make sure these terms are reflected on your statements.

The most important thing to remember is: Be Involved. Ask questions, read statements and know what is taking place. Education is the best tool for getting, and staying, out of debt.

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