12-26-2010 Update via FHA: CredAbility provides free, confidential budget counseling, housing counseling, comprehensive financial education, bankruptcy counseling and education, and debt management programs to consumers nationwide from all walks of life. Their mission is to help financially-distressed people move from crisis to control by providing compassionate service and innovative and practical solutions. In 2009, CredAbility served more than 750,000 people, a 26% increase from 2008.
The agency provides services around the clock in English and Spanish, 365 days a year. Counseling and education are available in person, by telephone and via the Internet at http://www.credability.org/
This non profit agency has helped thousands of people with their budgets and controlling costs. The difficult part is gathering your courage, swallowing your foolish pride, and face your monsters to talk with them. Yes, there is a fear of working with them and reducing your credit score, but if you are in financial trouble, your score’s going to take a hit anyway – they may be of great help.
They have a Debt Management Plan (DMP) where a CCCS counselor negotiates/coordinates a structured repayment plan with creditors to accept lower levels of payments and you make one payment to credibility once a month and that gets distributed to your creditors. Here are some of the conditions you may want to enlist the assistance of Credability:
- Use credit cards to over daily expenses
- You make only minimum payments on credit cards
- Making late payments
- Charging more money each month
- Credit cards getting close to their limit
- Receive cal from collection services
- If loss in income will cause immediate difficulty paying bills.
I understand that you may have a preliminary discussion with their representatives with no negative hit to your credit score until they start representing you in concessions or debt reductions. Their new website address is… http://www.credability.org/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.