Credit counseling is a debt management procedure in which spending habits of the people are studied and after carefully analyzing their income sources, a well suited plan is suggested.
You may not get a reduction but you will get a lowered interest rate on the debt and they can also offer you small payments but still you have to pay their money in full.
It may take you years to pay their money.
Credit card companies want their money back in any circumstances.
They are ready to offer you lower interest rate payments.
These companies don't want their customers to go bankrupted because filing bankruptcy is bad for both parties.
It destroys a customer's future and the company also has to bear loss.
That is why these companies are ready to give their customers leverage.
You can get free quote from a legitimate counseling company.
You will have to negotiate with the creditors.
You can do this without taking help of anyone else.
You just have to make an estimate of your money that you have to pay and your income.
Then, you should call your company.
Make sure that you have your credit report and recent payment bills before you.
You should try to negotiate with the operator.
If that person replies with a no and ends up the conversation, you can request him to forward your appeal to his supervisor.
Normally, it is not easy to handle these people so getting assistance of the credit counselor is better.
These people have proven skills in their field.
They know different tricks to get an offer in less time.
They can also help you in making a monthly budget.
You can follow this management plan to get rid of the debts as soon as possible without affecting your credit report.
For this, you should search a while for locating legitimate counselors because only a legitimate person or attorney can give you legal advice.
These people will not charge extra money from you.
You can ask any friend who has gone through this process.
You will get a relief through this procedure.
Always remember to do the agreement in black and white.