Credit counseling is designed to provide the education and tools that consumers need to help them develop better spending habits, reduce debt and live more financially responsible lives. Non-profit agencies like Cambridge Credit Counseling will provide you with a free, one-on-one debt analysis to help determine the most appropriate course of action for your unique financial situation. Our nationally certified credit counselors will help you:
- Identify your expenses and develop a working household budget
- Offer advice and guidance to help you reduce your monthly expenses
- Develop a plan to help you build savings
- Identify the most appropriate course of action to get you out of debt fast
In order to find out how we can help you, one of our nationally certified counselors will need to perform a FREE debt analysis so that we can implement the most appropriate course of action for your unique financial situation.
Schedule Your Free Debt Analysis!
Complete this form or call (800) 235-1407 for a FREE debt consultation with a certified credit counselor!
Why Credit Counseling?
If you’re one of the millions of Americans who are having trouble keeping up with their credit card bills, you’ve probably considered consumer credit counseling as an option to help get you back on track. Reputable agencies like Cambridge offer an extremely valuable service and are very effective at helping people pay down their credit card debt. With all of the debt relief services available today, we know it can be confusing to determine which option is best for your particular situation. After all, everyone’s financial circumstances are unique, so the assistance you receive should be personalized.
American households today have an average of $15,000 in credit card debt. Too many people rely on their credit cards to make ends meet and often find themselves having difficulty making even their minimum monthly payments. As their balances increase, so do the monthly payments, making it more and more difficult to keep their accounts current. They begin to miss an occasional payment. This cycle continues as their accounts are assessed late and over-limit fees, increasing their balances and minimum payments. Consumers find themselves unable to keep up, until eventually they simply fall too far behind and, one by one, their accounts become seriously delinquent.
At this point, there are really only a few options left, and credit counseling is certainly one of the safest.. Bankruptcy is a viable option for certain situations, and sometimes it’s really the only option, but for many people, credit counseling is a simple, safe, effective way to responsibly pay off your credit card balances, without having to get another loan.
The way it works is relatively simple. You’ll first need to speak with a certified credit counselor from the agency that you’ve chosen (see” How to Choose the Right Credit Counseling Agency” below). Your counselor will perform an in-depth review of your entire financial profile to try to figure out what circumstances have led to your need for their services. This is an important part of the process because it also allows the counselor to take a look at your household budget, if you have one. If you don’t, they’ll help you set one up. If you do, a few simple adjustments to your budget may be all you need to free up enough money to get yourself back on track without assistance.