Michael P. Ehline Alternative Dispute Resolution Law Blog on Lawyers.com

Are you aving debt consolidation issues and need debt help or some type
of free, non-profit or regular credit counseling assistance? If so,
there are several steps you should take:



Step 1: Gathering all Your Financial Information



Before contacting a Credit Counselor, gather all your financial
paperwork (monthly statements, payments due, interest rates, etc.).
Also don't worry if you can't find some documents. Once you contact the
Credit Counselor, he/she will inform you of any extra paperwork that
might be needed to begin the process



Step 2: Analyzing Your Financial Situation



Once you've called the Counselor, he/she will ask you several questions
so as to fully understand your financial status. Some facts taken into
account when examining a consumer's finances include:



Your income



Other financial responsibilities



Interest rates for each loan



Total amount of money you owe to your creditors



Minimum monthly credit card payments



Step 3: Creating A Repayment Plan



After you have gone over your finances, the Credit Counselor will
prepare a repayment plan that suits your needs and your budget as much
as possible. The plan is then sent to your creditors. Your creditors
will get back to your Counselor either approving or rejecting the
offer.It´s almost as if the credit counselor is acting as an attorney
in a credit matter. Step 4: Paying the Certified Credit Counseling Company



If the creditors approve of the repayment plan your Credit Counselor
proposed, you'll be able to begin making payments to the Counseling
Company. How does it work? Following the guidelines for your repayment
plan, your Counselor will distribute each payment to your different
creditors accordingly.



Next is to find a reputable Credit Counselor or Credit Counseling Company



The first step to financial freedom is knowledge, but fully
comprehending your finances isn't simple, especially once they get out
of hand. This is why a Counselor could be very helpful in this matter.
However, you must make sure he/she is a reputable professional working
for a legitimate company. Of coarse you want to make sure your finances
are in good hands.A great idea is to check with the BBB and make sure
that have a strong background in the industry.



A great option is contacting a company such as Community Credit
Counseling Corp. Community Credit Counseling Corp or www.commcredit.org
staff of highly trained Certified Credit Counselors
will be more than happy to answer any additional questions you may
have. Give them a call and ask about how they can help you with debt
consolidation, credit counseling, etc.