California is one of the most stringent states when it comes to paying back loans. In California the bankruptcy process is set up against the borrower it would seem, especially if the borrower is a small business owner without enough money for a dedicated team of lawyers.
If you are in serious trouble with credit card debt and you reside in CA, then you may be in for a tough ride, if you don’t have the right help on your side. In states like California, credit card companies are allowed to extract money from borrowers in ways that are simply not available to them in many other states; this is why many credit card companies focus so heavily on marketing to college students in California. They want to get young borrowers who may not be as responsible with credit as their parents might be.
However, there are a few ways that you can get yourself out of financial trouble and make sure that you never have to go through that kind of debt hardship again. With the right consumer credit counseling services in California, you can get the help that you need from an accredited agency and the advice that you need for the long term to help give you peace of mind about the future.
The first thing to do in order to make sure that you obtain the right kind of help is to take a personal assessment of your financial situation to determine the exact kind of help that you may need. This can be done for free during a credit counseling session with a certified credit counselor. The counselor will help you work out a budget and give you an overview of your current financial situation. Below are two major types of credit card counseling programs that have helped many people get back on the path to financial freedom.
Credit Management Assistance Programs –
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Also known as Debt Management Programs (DMP), the credit management assistance program is a great way of getting your finances in order. It can consist of as little as a weekly conversation with a credit counseling professional over the phone to discuss your budget, or it can become much more involved, with the credit counseling professional actually performing some money management actions on your behalf. They could talk with your creditors and get your interest rates drastically lowered and also try to have your late fees or over-the-limit fees dropped. You would send them one monthly payment and they would disburse that money to your creditors each month.
The one thread that separates a Debt Management Program (DMP) from other types of debt assistance programs, such as a debt settlement program, is that all of the work of sending out monthly payments and negotiating with the creditors will be handled by the credit counseling agency and you might not have to contact your creditors directly ever again. This is a wonderful option for getting yourself out of debt, while maintaining your budget and still being able to pay necessities such as your mortgage/rent, utilities, auto expenses, etc. Contact Advantage CCS today at 866-699-2227 and ask us how we can help you get that debt monkey off your back!
