Government approved credit consolidating programs

Promises of quick debt reduction or debt settlement plans with high up front fees (in the hundreds or thousands of dollars) should be a red flag to consumers.Selecting the wrong credit counseling service can cause you considerable financial harm.Very soon, credit counseling emerged as part of the NFCC’s nonprofit service.*Basic eligibility is limited to: (a) single family owner/occupied dwellings with all those on the deed and mortgage occupying the house; (b) no more than one mortgage or lien encumbrance on the property; (c) no initiated or ongoing bankruptcy.has maintained an A rating with the BBB since 1983.Some agencies, like credit.org, offer HUD-approved housing counseling services, though all CCCS agencies may not offer the same level of housing counseling.You should close out all the accounts you paid off with your consolidation loan, so you don't run up the balance again.

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Being a CCCS means the agency is a member of the NFCC.

These businesses, for a fee, offer education and personalized advice to consumers.

They can improve your credit rating or history, help you obtain credit, and offer credit advice or assistance.

Now instead of having five different debt payments each month, you only have one payment.”Before deciding if debt consolidation is a good option to help you reduce your debts you need to determine if you qualify for a debt consolidation loan and are there enough benefits.

Consolidation loans in Canada are available at banks, credit unions and finance companies.

Government approved credit consolidating programs