Credit counseling will give consumers the right financial and debt education that will prove to be useful even beyond bankruptcy.
Philadelphia, PA (PRWEB) June 02, 2013
Debt Consolidation USA recently published an article that sought to examine how the debt relief option, Credit Counseling, can help with the bankruptcy process. This is to help readers understand the relevance of this debt solution to the financial welfare of bankruptcy filers and consumers in general.
“Credit Counseling Prior To Filing For Bankruptcy” is an article published by the company on their website last May 19. It stated how the Bankruptcy Law of 2005 mandates that this debt relief option is a prerequisite for consumers who wish to file for bankruptcy. Now, consumers have to present a certificate from an accredited credit counseling agency that proves the consumer underwent counseling before finalizing their decision to file their petition in court.
The article acknowledges how debt has unfortunately become a part of the average consumer’s way of life. When things get too difficult, some people think that bankruptcy is the only option.
Debt Consolidation USA believes that this is where credit counseling can be of help. The article describes it as involving a professional third party that provides the consumers with a “straightforward and an in depth assistance and advice on how to properly manage debts.” The Bankruptcy Law of 2005 hails this program as the most important step that the consumer will have to go through to achieve freedom from debt.
The article warns consumers to be ready with some cash because it can be a costly service to avail. While there are free credit counseling services, the consumer must be able to present proof that they cannot afford the fees.
Readers are told to be careful with their choice of agency and to only get those accredited to provide the service. The consumer must perform due diligence that includes a probe on the reputation and service background of the company.
The article published by Debt Consolidation USA gives the following activities to be expected from a legitimate credit counseling agency:
1. Provide a thorough advice about how to manage existing debts and finances.
2. Assess the consumer’s credit standing.
3. Discuss the steps in filing for bankruptcy.
4. Educate consumers about the complexities and credit score effects of bankruptcy.
5. Explain the other debt relief alternatives to bankruptcy.
6. Create a financial plan that will help the consumer get out of debt.
The counseling can happen in three different ways: over the phone, via the Internet or in person.
Debt Consolidation USA believes that credit counseling will give consumers the right financial and debt education that will prove to be useful even beyond bankruptcy. It teaches them the proper way of handling finances so that they will never be placed in the same situation again.
To read the whole article, visit the Debt Consolidation USA website. To know more about debt consolidation as an alternative to bankruptcy, call 1(877)610-6990.
DebtConsolidationUSA.com is a one-stop resource on debt relief programs. They specifically provide information about credit counseling, debt consolidation and debt settlement. They provide other personal finance articles to help readers find the best advice on how to handle their money. With a decade of exposure in the industry, they offer debt consolidation services while keeping their clients aware of other debt relief options.