Will Credit Counseling Hurt My Credit

Will credit counseling hurt my credit is a question that some consumers need an answer for. Some wonder if the rumors surrounding credit counseling are true, mainly that getting advice may look bad to their creditors. However, consumers will find that the counselors can offer solid financial teaching as well as a workable plan to get out of debt. When looking for advice, consumers should be sure to find a counselor that will help them meet their financial goals.

People may not understand what legitimate credit counseling looks like. Unfortunately, there are many businesses out there who attempt to scam people out of their money. The good news for those who are wondering will credit counseling hurt my credit, is that there are many reputable agencies that genuinely desire to give wise counsel about finances. These are agencies that consumers can feel comfortable dealing with. They have solid standing with the Better Business Bureau and a long list of satisfied clients. A reliable agency is also recommended by many people. To find such companies, consumers may have to ask around and do some research online.

In the past, credit counseling did reflect poorly on a person's record. However, people in the credit business have discovered that people who use financial advice are no more likely to default or file for bankruptcy than those who did not see a counselor. Some may say that not using counseling could be detrimental to the person in debt, if they do not get advice on how to get control of their finances. Furthermore, financial agencies rarely report to bureaus.

The Bible says, "He that handleth a matter wisely shall find good." (Proverbs 16:20) Getting wise counsel when in trouble and following that wise counsel can get us out of the financial bind in which we find ourselves. Therefore, consumers should seek the answer to will credit counseling hurt my credit, then take the next steps toward getting their finances settled.

Consumers need to consider what a financial advice agency can do for them. Counselors can provide general budgeting and money management advice to help prevent future financial problems. They also can negotiate with creditors to get them to eliminate any late fees that may have accumulated, extend the terms of loans or even lower interest rates. The benefits are numerous. Consumers need to act now and get a good counselor who will help them on the road to financial freedom.

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