What does a consumer counselor do?
Consumer credit counseling services help overextended credit users eliminate high interest rate credit card debt. It’s their mission to help you regain financial stability. Certified credit counselors evaluate your debts, budget, and credit. Then they help you identify the best way to get out of debt in your situation.
Where should consumers find private credit counseling services?
Most credit counselors offer services through local offices, online, or on the telephone. You can find a list of approved credit counselors online. Once you’ve developed a list of potential counseling agencies , check them out with your State Attorney General’s office, and local consumer protection agency.
Can you do credit counseling online?
Solve your debt problems with credit counseling online. When you want to find a way to pay off loans and make a get out of debt plan, credit counseling online can be a convenient option. Online debt counseling services let you communicate with professional credit counselors from the convenience of your home or desk.
What are financing fees?
A finance charge is a fee charged for the use of credit or the extension of existing credit. It may be a flat fee or a percentage of borrowings, with percentage-based finance charges being the most common.
How do you avoid finance charges?
The best way to avoid finance charges is by paying your balances in full and on time each month. As long as you pay your full balance within the grace period each month (that period between the end of your billing cycle and the payment due date), no interest will accrue on your balance.
What’s the cost of consumer credit?
What is the cost of consumer credit? The cost of consumer credit law can get confusing. Simply put, the total cost of credit is the difference between what the borrower receives when they borrow money to purchase an item (value received) and the amount they actually have to pay back (value given).