Debt Counseling Advisors

Since 1995 the mission of Credit.com has been to help customers learn about credit and find the right service for their situation.

Applying for a loan, credit card or debt assistance program though Credit.com is easy. Their secure online forms match your application details with the best provider.

Credit Solutions is the leader in the debt settlement industry, managing over $1.2 billion of credit card debt for their clients. More than 70,000 people have entrusted in Credit Solutions to help them live a debt free life.

Credit Solutions helps their clients by securing a reduction in their outstanding credit card debt, providing solid financial information and arming them with sound budgeting tools.

CareOne has helped over 4.5 million people and, in 2006 alone, helped their customers pay down $850 million in debts.

CareOne is a debt relief service provider with a difference. CareOne works to provide flexible, effective debt relief options for consumers who are struggling with credit card and other debt.

Debt Counseling

·         Debt counseling is a person or company who suggests a proper plan of action for your needs.

·         They typically are more consumer oriented and plan the best route to get you debt free.

Online Debt Consolidation

·         Online debt consolidation is taking all outstanding loans and debts and rolling them into one payment.

·         While this option does lower monthly cash out flow, it tends to extend the loans over a longer time.

Debt Management

·         Debt management is when they help you plan and strategize to achieve your financial needs.

·         They figure out ways to manage current debt, while keeping your credit in tack.

Debt Settlement

·         Debt settlement is when a company deals as third party with your current creditors.

·         They help negotiate a lower amount to be paid back.  This will often times mess up your credit.

 So many different debt related terms are thrown around online yet many times people have trouble understanding the difference in what they mean.  Everyone knows what their end goal is but they don't know if they are applying for the right thing.  The most common ones are debt counseling, online debt consolidation, debt management, and debt settlement.  While they all have different meanings and purposes, they all share a common end goal of reducing you debt and getting you back on the road to financial stability. 

While some eliminate debt, they may hurt your credit.  Others bundle your outstanding debt but lower your monthly cash outflow.  There are a number of companies out there that specialize in each area individually.  Some are great with negotiating with creditors to lower your debt.  Others may be better at working directly with the consumer to determine their needs and get them back on track.  Others simply focus on issuing a new loan that consolidates all of a consumer's outstanding ones, often with a lower monthly payment.

What ever their route may be it is important to understand the company you decide to work with.  You should understand what their business is and how they are eventually compensated.  This will help better understand if they are honestly looking out for your best interest, or do they have a financial incentive to give the advice they do.  All in all make sure you know your needs before talking to any debt counseling advisor, and make sure they listen to your needs.