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Debt Consultation Costs & Benefits

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Joined: 25 Jun 2010
jimelton23's page
Posts: 1

44 Magic Points

Subject: Debt Consultation Costs & Benefits
Posted on Fri Jun 25, 2010 2:30 pm  

Like a home equity loan, with which there are closing costs associated, some debt solutions or debt consolidation plans come with fees. Now, if you are paying 1% and you are saving 10% the savings are a no brainer - but don't be lazy! Calculate the costs and really figure out what you are putting out vs. what you are getting back. Generally, individual debt consultation is not fee based and will be free of charge as they create a debt solution for you. Business debt consultation, because it's more complicated, often does have a fee structure or some outlaying of money. If you've educated yourself about your debt solution alternatives, you won't be surprised by the options laid out by your debt consultant and you'll be able to make an educated decision about your plan of action.
debt elimination companies
debt elimination services


Joined: 17 Feb 2009
ensurepune's page
Posts: 99

501 Magic Points

Posted on Wed Jun 30, 2010 10:31 pm  


If person is spending money on credit repair then it really becomes difficult to measure output of increase in credit score w.r.t.amount of fee paid for the credit repair solution.
So,it becomes tedious to exactly determine how much returns we have got.
keep in touch.....
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Joined: 01 Jul 2010
hgimmy229's page
Posts: 11
Location: Florida

259 Magic Points

Posted on Thu Jul 08, 2010 7:51 pm  

You always want to be cautious between for-profit and non-profit organizations. Creditors generally only work with 501-C3 non-profit companies.

Non-Profit companies offers free financial counseling. Generally a budget assessment is done to evaluate how overextended you are. Based upon the amount of (Disposable Income) you have left over once you are done paying your fixed living expenses, a program is developed to meet your budget & save you money on your unsecured debts. If the consumer decides to proceed with the program, minimal service fees based upon the companies disgretion may be charged to handle the management of the account.

Please keep in mind, if the program is not cost advantagist for the consumer, the counselor would generally give other recommendatons for assisting the consumer in there situation.

Companies that charges upfront charges were they would hold at least one payment as a fee is generally for-profit organizations.

Why pay a company to destroy your credit rating? You can save your money & destroy your credit rating yourself without paying high fees simply by not paying your bills.

For-Profit Organizations gives alot of appealing offers that they can take your debt, cut it in half or they can eliminate your interest. If that was the case, every consumer would jump on that to avoid interest charges, fees, high balances, etc. but it is just not factual.

Always remember, if something sounds too good to be true, most likely, it is too good to be true.

If in need of a free financial assessment, please feel free to contact me to evaluate your situation.


Heather Gimmy
Heather Gimmy
Non-Profit Budget Counseling


Joined: 08 Feb 2010
Aaron's page
Posts: 2632

48565 Magic Points

Posted on Mon Nov 15, 2010 11:07 am  

It's not about paying a huge sum of money at once. It's more about paying money in bits...but paying it consistently. You'll need to get a fair measure of your financial strength to pay it till the end.
Keep in touch Smile

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