Debt Consolidation may be better then bankruptcy
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Common Questions

Q:

How much does credit counseling cost?

A:

At Credit Advisors, credit counseling is a free service. It includes education, budgeting, goal setting, examining options and tips on how to get out of debt and stay out. Creditors often provide financial support to the organizations that sponsor DMPS. They are not doing this for humanitarian reasons, but because they understand that repayment of the debt is simply better than getting no money or being forced to accept the terms imposed on them by a bankruptcy court. Through a DMP, creditors will receive repayment of the current debt owed and are not forced into a lesser settlement amount. It’s also important to remember that most credit counseling agencies that sponsor debt management programs are organized as non-profit companies, which allows credit companies to regain any interest lost as a result of concession given to clients through tax write-offs. DMPS are on e of the few “win-win” situations for consumers. Besides, both the creditors and the debtor gaining some peace of mind and saving money, DMPs can also relieve the mental costs of debt.

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