How long does it take to pay off my debts?
Most of our clients are able to reduce payments as well as reduce interest charges.
If you continue to pay only the minimum amount due yourself, it would take 10 to 20
years to pay off most balances. But with our program, most clients are able to pay their debt
in only 3 to 5 years.
How does your program effect my credit report?
Most creditors will waive late fees and re-age the account. The account is then
considered current, a great plus for people who are behind. While some creditors
will make a notation on your credit report such as "Managed by Credit Counseling,"
most acknowledge this is a responsible way of dealing with overextended credit issues.
Is your program expensive?
We charge a small initial processing fee plus a minimal monthly charge for managing your accounts.
Since we are a non-profit company we are actually funded by donations we receive from creditors
themselves.
Why will creditors lower interest rates for Credit Help but not for me directly?
The creditors realize that we are many times the last chance for may people and they would
much rather not assign the account to the Collection Department. They also realize that we
work with people on debt management and budgeting. Since you have made a commitment to us,
they feel that you are a better candidate to make monthly payments to us.
We also eliminate an awful lot of paperwork for the creditors and they appreciate that.
Does Credit Help actually loan me money?
No, we do not lend you any money; this is not a consolidation loan. Credit Help negotiates
with your creditors to lower payments and interest rates and accepts one payment
from you and then disburses money to all of your creditors. The result is much like a
consolidation loan with a lower interest rate. Creditors are paid individually,
but the cumulative interest rate is lower.
What is the difference of your program compared to bankruptcy?
Most people file bankruptcy to escape bill collectors, not because they have too much debt.
Credit Help is an alternative to filing bankruptcy. Most people do not want to file bankruptcy,
but they think it is the only answer. Many people are able to avoid the bankruptcy mistake
by enrolling in our program.
I am not behind on my bills, but I am barely making it and my balances
never seem to go down. Can I enter your program if I am not currently
behind on my bills?
Yes. Most creditors realize that it is well worth working with people who realize
a problem may be on the horizon.
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