Free Debt Counseling

Millions of Americans are burdened by debt. Here comes consists of the process of seeking debt consolidation and debt settlement to find a solution to these financial difficulties. And, according to advertisements on television and in newspapers, “Free debt counseling.” But what is debt counseling? 형사전문 변호사

Debt counseling companies offer their customers education designed to reduce the debt load. Commonly, these companies encourage borrowers to stop using credit cards — the main reason why most people get into debt in the first place — and to instead, start using cash to make as many purchases as possible. Between the education, the debt-relief companies and the cash, the borrowers would be on their way to debt-free. And, because this education is really needed, there’s no better way for consumers to get the education and counseling they need than by getting this free. And, this education doesn’t need to cost plenty in order to get it.

The consumer looking for help is able to find it because there are numerous for profit and non-profit debt consolidation and debt settlement companies that advertise and sell debt management plans designed to help the consumers reduce, or, somehow, pay off, their debts. These companies also advertise free debt counseling, in addition to the debt management plans. A debt management plan is really an education course designed to make the borrower a shrewd financial and credit consumer.

Although these debt management plans are free, and could be considered by people with high credit balances as a tax write off, one should not consider this a complete solution to their financial woes. Since this counseling will, in most cases, still require the help of a professional as the borrower may not have the expertise to understand every detail of the loan and credit agreement, he or she is, ultimately, going to be saddled with the loan. The mindset that some debt management plans are really free financial counseling is somewhat misleading at best, and misleading advertising at worst.

In any case, the consumer seeking free debt counseling will have to do some homework in order reach the right person. Some debt consolidation companies advertise heavily, but many are not. The safest course is to check out a few background organizations and get a feel for their camaraderie. In order to be a safer bet, some of the debt consolidation companies are smartphone friendly. This does not guarantee that your information will not be used for marketing purposes (since many people are not comfortable or seeking an education), but it is a start.

More oftentimes than not, the debt consolidation companies rely heavily on the consumer to approach them. Consequently, the consumer is confused about which company or organization to approach. It is a real challenge for a person or an organization to become the adversary instead of the benevolence, because debt consolidation will never really solve the problem it was designed to alleviate. Since so many Americans will find themselves in about the same situation in the future, a person needs to do their due diligence before engaging in debt consolidation. In doing so, the consumer will have invested their time and their dollars not only in getting a solution, but in educating themselves about the stock market and the proper investment strategies for this situation.