Consumer Credit Counseling
Clients who don’t own their own home or who would prefer not to tap the equity in their home may find Consumer Credit Counseling an attractive solution. At DRO, we offer two approaches to consumer credit counseling. You’ll be able to choose wisely between these two options after consulting with one of our specialists about your personal goals, your ability to pay and how comfortable you feel with different levels of risk:
- One fixed monthly payment.
- Total client costs exceed amount of original debt.
- Finding new credit during the course of the program is difficult.
- Client is debt free in 2-8 years.
- Creditor terms are set in advance.
- Credit score cannot be lowered by credit bureaus because you enroll.
- Credit report can show notations for up to seven years; lenders view this unfavorably.
- Less aggressive approach in which creditor dictates payment levels.
- One fixed monthly payment.
- Overall program cost less than original debt.
- Getting new credit during the program term is also difficult.
- DRO’s program completes in less than three years; client is debt free at end of program.
- Creditors react differently, sometimes unpredictably to prospect of receiving less money.
- Credit score suffers initially, but credit can be rebuilt faster using this method.
- Credit blemishes are compensated for in part by the fact that your outstanding debt is reduced to zero by the time the program concludes.
- More aggressive approach in which negotiation determines payment levels.
Consumers have now benefited from Consumer Credit Counseling for nearly twenty years. This option became more attractive to consumers in the year 2000, when changes in the law made settlement easier to enforce. Because the method produces fast results and delivers substantial cost-savings to consumers, consumer credit counseling has since become the fastest growing segment of the debt solution industry.
DRO realizes that Consumer Credit Counseling may not be a viable option for everyone. For this reason, we offer a number of other debt help and debt relief options such as: Debt Management, Debt Settlement, Debt Negotiation, Bankruptcy, and Credit Card Debt.
