SOURCE: Total Debt Relief

January 25, 2010 12:33 ET

Consumer Credit Counseling: Worthwhile or Worthless?

With Credit Card Debt Continuing to Affect Millions of Americans, Consumer Advocate Explains Credit Counseling as Well as Effective Alternatives

CHICAGO, IL--(Marketwire - January 25, 2010) - Consumer Credit Counseling -- consumers see the TV ads and hear the radio ads on a regular basis. Some of these firms claim to be non-profit while others clearly are a commercial concern. Yet all these consumer credit counseling services claim to be able to help consumers get out of debt. Is this true? breaks it down:

Consumer credit counseling is not the most effective means of achieving debt reduction and debt elimination, but it has its merits. Credit counseling works by a credit counselor or financial planner sitting down with a consumer and reviewing their personal finances in order to determine ways and means to: cut spending, save more, and pay down debt, particularly credit card debt.

Often times through consumer credit counseling it is possible to negotiate extended payment terms with creditors, thereby obtaining slightly lower monthly debt payments. But consumers should be aware of the following: extended payment terms means paying a greater overall amount of money over time. This rarely makes good financial sense.

Consumers would be wiser to consider other debt relief options that provide greater amounts of debt reduction in shorter periods of time than consumer credit counseling. One of the best debt relief options which consumers have available to them today is known as Debt Settlement.

Here's how it works:

A debt settlement firm negotiates on behalf of the consumer in debt with the consumer's creditors in order to obtain concessions in terms of the overall amount of debt that is owed. In almost all cases, a debt settlement program can achieve debt reduction and debt elimination of at least 50 percent, with debt reduction and debt elimination of up to 70 percent becoming increasingly common.

This debt reduction and debt elimination is achieved without the need for taking out any additional loans of any kind, and avoids bankruptcy as well. Debt settlement is quick, easy and effective. And debt settlement works for both consumer debt as well as business debt.

Total Debt Relief offers consumers and businesses a free debt evaluation which can be taken advantage of at the company's website:

Contact Information

  • Contact:

    John Chase
    877-227-2950 x 7016