It's still possible, however, to benefit from consolidation if you explore your options and proceed with caution. Credit counseling is providing financial education to help you better manage your credit and other personal finances.However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan.Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation. Debt consolidation is a third-party payment system. Agencies range in quality so make sure you shop around. Most debt consolidation plans are structured the same way. They ensure member agencies pass rigorous standards set forth by the Council on Accreditation or another approved third party, and that their counselors pass a comprehensive certification program. Financial institutions don't give preferential treatment to any one organization, nonprofit or otherwise.
It simply means getting the most from the money you do have.By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you.student loan is subject to completion of a loan application/consumer credit agreement, verification of application information, credit qualification, and a benefit to borrower determination.Our appointments are free and completely confidential.Your Counsellor will provide you with information and guidance to help you make an informed decision about your finances.The Federal Trade Commission has said that negative information, if it is accurate, cannot be removed legally from your credit report.