A Solution That’s Helping Consumers Avoid Bankruptcy

Before you file bankruptcy, consider you options first. There may be a better way to get out of debt that can save your credit.

Bankruptcy experts are predicting a boom in business through the end of 2020 and on into 2021. It’s no surprise, given that over 58 million Americans have been out of work at some point this year. And a recent study found over 67 million are worrying about how they’ll pay their bills.

Bankruptcy can temporarily stop evictions and foreclosure. But that relief is only temporary. You’ll ruin your credit and may end up losing your home before all is said and done. 

An extension on the foreclosure and eviction ban for many homes has bought people time. You now have until December 31. That gives you time to find a solution that can get you back on track. So you can save your home without filing for bankruptcy. 

That solution may be nonprofit credit counseling.

Consolidated Credit has helped 10 million people find relief

Nonprofit credit counseling organizations like Consolidated Credit provide a free debt and budget analysis. A certified credit counselor reviews your budget and debts to see where you stand, so they can recommend the best debt solution for your needs.

In 27 years, Consolidated Credit has provided this free service to over 10 million Americans. In some cases, bankruptcy ended up being the best option, but in many cases, it could be avoided with a special program designed to pay off credit card debt in 60 payments or less.

The nonprofit organization provides a free debt and budget analysis to consumers who are working to get out of debt. You can call (844) 329-7533 to speak one-on-one with a certified credit counselor. They help consumers understand their options for getting out of debt and identify the best solution based on someone’s unique financial situation.

A debt management plan offers a better way out of debt

In addition to providing free credit counseling, organizations like Consolidated Credit can also help consumers set up a customized debt management plan.

It consolidates credit card bills into one affordable payment and minimizes interest so a consumer can pay back everything they owe in 60 payments or less. Doing so avoids the negative credit penalties created by bankruptcy and other relief options.

Most consumers can qualify. As long as someone has the income to make a reduced monthly payment, they can use this solution. 

Creditors are paid every month and most creditors even agree to bring delinquent accounts current after three payments.

“Consolidated Credit was like a miracle,” says Carlos, a U.S. Veteran that paid off over $30,000 in credit card debt. “When I was in the dark, they came with a light and showed me the way. After making that call, I knew I’d found a solution.”

Bankruptcy counseling costs money, credit counseling is free

If you plan on filing for bankruptcy, you’ll be required to get pre-bankruptcy credit counseling. You may have to pay up to $50 to talk to a counselor, who will review your finances to make sure filing is your best option.

But organizations like Consolidated Credit can provide that same service for free. And you may realize that you don’t need to file at all.

Countless people who thought they were destined for bankruptcy court have found a better way out of debt with a customized debt management program.

Owning over $18K, Michael thought bankruptcy was inevitable

“My life was in ruins and my credit was almost nonexistent,” Michael says. “I’d already been through it once and my credit hadn’t recovered before I was back here again.”

He confided to some of his friends and one told him about Consolidated Credit. So before he dug out the number for his attorney, he decided to give them a call. He qualified for a debt management program and the counseling team got to work.

“The plan was affordable, and I wasn’t getting threatening calls demanding payments I couldn’t afford. It was a load off my mind.”

They called his creditors, who each agreed to minimize or eliminate his interest charges. He made one monthly payment to Consolidated Credit and they distributed the payment every month to the credit card companies like clockwork.

Ethel was also amazed at how affordable the plan was

“I heard about Consolidated Credit on television and I have to admit I was skeptical,” she says. “I just assumed that the payments would be more than I could afford. I was out of work and on disability, so I figured I wouldn’t qualify.”

After a few months, she decided to make the call. She gave the credit counselor a list of all the cards she’d want to include in the program.

“I was so relieved when she told me I qualified and the payments were so affordable.”

The counselor helped her set a budget and she was even able to start saving.

“You will feel so light without being burdened down by your debt. Life will become manageable again.”

“It wasn’t much,” Ethel admits. “But I was putting away $25 a week in savings and that was huge for me. This was the best financial learning experience of my life.”

Two and a half years later, Ethel is debt-free.

What are you waiting for?

“You don’t have to go it alone,” says another Consolidated Credit graduate Mark. “Find a program like Consolidated Credit’s, and go through it and you’ll get out of debt.”

Mark paid off over $10,000 and immediately started building up his credit. He went from six credit cards that were all over their limits to just one, which he says he barely uses. He and his wife are happy to pay for date nights in cash.  

“Pay close attention as they explain the program to you, and you will discover how easy it is, how professional, and how personable they are. They were able to answer all my questions and we had no problems in going through the process.”

It all starts with a free, confidential debt and budget evaluation. As a nonprofit organization, Consolidated Credit isn’t trying to “sell” you anything. They just want to help you get out of debt.

If a debt management program isn’t the best option for you, they’ll tell you what is. Depending on your situation, they may recommend other solutions, such as a debt consolidation loan, a settlement program, or even bankruptcy. You’ll know you’re making the right choice.

To get started, simply call (844)329-7533 to speak with a certified credit counselor.

These stories are real, and so are the savings

Still not convinced? Here are a few case studies that show how much people have saved with Consolidated Credit. No matter how much you owe, a debt management program may be able to help!

Michelle from Arizona – Total debt $25,685

Consolidated Credit worked with Michelle’s creditors to reduce her average interest rate to just 6.82% and her monthly payments were reduced by 36%.

BeforeAfter
Monthly payment$1,028$651
Time to payoff12 years, 7 months3 years, 4 months
Total interest charges$14,652$2,805

Kim from Georgia – Total debt $39,233

Consolidated Credit reduced Kim’s interest rates to an average of 7.22% and reduced her monthly payments by 43%.

BeforeAfter
Monthly payment$1,569$900
Time to payoff13 years, 11 months4 years, 3 months
Total interest charges$23,034$16,760

Karee from El Paso, Texas – Total debt $15,698

Consolidated Credit reduced Kim’s interest rates to an average of 5,73% and reduced her monthly payments by 51%.

BeforeAfter
Monthly payment$628$303
Time to payoff11 years, 1 months4 years, 10 months
Total interest charges$8,912$2,459

If you want to know how much a debt management program can help you save, Consolidated Credit offers a free savings estimator. You can also call (844) 329-7533 to get a free debt and budget evaluation from a certified credit counselor.

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