loan,banking and credit
*Loan,banking and credit>>>credit counseling

Credit counseling companies claim they can get the interest on your accounts lowered....how do they do that?


I keep thinking these people have to be up to something. They told me they are able to work with my credit card companies and reduce the interest anywhere from 0%-9%. How? And why can't I just call up my credit card companies and request they lower my APR (I've already tried, btw....?)

They call your creditors and negotiate.... The difference between you and them calling is that they let the credit know hoe bad your siatuation is and that youre trying to avoid bankruptcy.... Anothe rthing they will do is negotiate a settlement...Which means they offer your cards something like 75% but the trick there is that you need to have the money to pay the settlement in full.

Be aware tho - working with a credit still reflects poorly on your credit report similiar to a bankruptcy
They call and ask.

You can do the same thing yourself... without having a FEE for doing it.

If you are paying on time, they wont do it.... they do it for people that they think they are not going to get their money from.... if you are paying on time, you can transfer the balance, or call and threaten to take your business elsewhere.
They do it the same way you would; they call the creditor and ask to lower the rate. I do it all the time, and my cards are all around 12-13%. If they are reluctant, I just tell them that Discover lowsered my rate, and I'd appreciate it if they could match it. Usually they do.
Beware credit counseling will report on your credit. The creditors or the counseling co will put a notice that will appear on your credit and some lenders and creditors don't like it. In some cases its considered derogatory.
Tags
chase credit citibank credit card credit application credit bureau credit check credit counseling credit debt credit line credit repair credit report credit score
Related information
  • Credit counseling companies claim they can get the interest on your accounts lowered....how do they do that?
  • Does anybody know any good credit counseling centers that are online?
  • Has anyone ever dealt with (CCCS)credit counseling services?How bad is it for your credit?
  • Non profit credit/debt counseling service?
  • I am using consumer credit counseling to do a credit settlement for 10k in credit cards. Is it a scam?
  • Does a credit counseling company make your credit worst or better?
  • Bankruptcy, credit counseling, or pay it ourselves???
  • Do you know of any reputable Credit Counseling Services?
    •    

    SiteMap--Copyright/IP Policy--Contact Webmaster--Resource of HR
    For personal non-commercial use only.