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GET OUT OF DEBT WITH NO REGRET

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Helping people out of debt since 1958

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Call today for a FREE consultation
800-766-3328

What is Credit Counseling?

GET IMMEDIATE RELIEF FROM CREDITORS!

Credit Counselors contact all of your creditors, everyone you owe money to, and work out a payment arrangement with each one of them, based on what you can afford to pay. This is not a loan.

Through our plan you make one payment per month to Credit Advisors and we pay all of your bills.

We work with every major creditor across the country to obtain benefits for you such as reduced interest, lower payments, and we stop late and overlimit fees.

Our debt elimination plans are often the fastest and cheapest way for people to get out of debt.

Give me a quote:

OK, So you’ve read this far and think “Yes, Credit Counseling may be for me”. All right. What we need to do is get a list of your bills, a run down of who you owe and how much. So fill out the following SECURE and Confidential application. When you’re done you’ll be quoted a payment plan. This will tell you how much we need per month to handle your account. You’ll also know how long your plan would last to get you completely out of debt.

YOU PROBABLY HAVE QUESTIONS

Frequently Asked Questions

Credit counseling is the process by which a qualified professional assists a consumer in development of a plan that focuses on resolving financial issues in a manner that is best suited for their financial goals.

Debt Management is one such solution to resolving financial issues. The process begins with a certified credit counselor reviewing your situation and helping you determine your short and long-term goals. After the development of a working budget for handling your monthly expenses each of your credit accounts is examined in detail. Then, a repayment plan is developed to fit your needs and meet your creditor’s requirements. During a Debt Management Program you make monthly payments to Credit Advisors. These payments are then forwarded to your creditors in accordance with your plan to become debt free. Many creditors recognize a consumer’s efforts to repay debts through a Debt Management Program by making concessions, such as adjusting your interest rate and lowering required payments to assist your program progress. Credit Advisors works with over 50,000 creditors nationwide.

Lower Payments.
Debt Management plans can lower your monthly payments to your creditors by up to 50%.   We work WITH your creditors.   When you join a debt management plan, your creditor is on board with us.   They are willing to lower the payment in some cases to give you the breathing room you need when you are working with approved credit counseling agencies.   By working with a counseling agency, you are proving that you want to repay your debts, not just settle them or file bankruptcy.

Lower Interest and Fees.
Creditors often will lower the interest and eliminate late and over-limit fees you are paying so more of your money is going to pay down the principle once you are on an approved plan.  Creditors can be your best partner on the road to debt free living.

No more creditor calls
On a debt management plan, the Creditor is your partner!  Unlike debt settlement, the creditors have approved of this plan up-front.  They will stop calling and nagging you.

SAVINGS
The beauty of interest reduction is that instead of simply paying the interest and barely scratching the surface of your debt, you can start paying down the principal immediately. In the same way that debt seems to snowball out of control, a successful DMP can yield surprisingly quick results. Below is an example of what you might save in interest charges if you participated in a DMP and owed a credit card company $3,500:

Total Payment Not Using Service–$7,069.98

Total Payment Using Service–$3,184.98

Amount Saved–$3,885.00

*While results vary depending on your debt, in most cases savings are significant

  1. One Place to Pay – You can now sit back and let Credit Advisors handle your money and payments. No more juggling, worrying who to pay first, or going to the post office.  We take care of all those decisions and payments.
  2. Out of debt quicker – Because you are paying less in interest, you get out of debt much quicker on a debt management plan than if you go it alone.

Watch out for companies that want to cherry pick your debts by only handling credit cards. They are not working for your benefit. At Credit Advisors we recognize that there are other types of debt that can create problems for consumers. Due to this, CA will also include in your program medical bills, personal unsecured loans, post repossession balances, old utility bills, student loans, state or federal income taxes, personal/family debts, certain payday loans and other unsecured debt.

A good credit counseling service will treat you with respect, have certified credit counselors to assist you in developing an action plan around your needs, be accredited through BVQI or other certifying company, have a good record with the Better Business Bureau, offer financial education, and have depth of experience. Credit Advisors has been in business for over 60 years!

 We also recommend you do your own independent research but be wary of new, fly-by-night debt management and debt settlement companies. Remember that if something seems too good to be true, it probably is.

Credit Advisors provides many advantages over other counseling agencies. Here a just a few:

  • Many counseling agencies rely primarily on creditors to fund their service and as such there appears to be a conflict of interest. This encourages them to favor creditors that are in their best interest not yours. So, are they really representing you or the creditors?
  • Some agencies charge a flat fee regardless of what you can really afford. We believe you should only have to pay what you can truly afford.
  • Credit Advisors will allow you to divide your monthly payment between pay periods. We don’t require one large payment a month.
  • CA has a much lower counselor to client ratio than most other agencies.
  • Many agencies will only handle debts that are easy to negotiate or debts to those creditors that contribute a percentage of funds back to them. Credit Advisors handles ALL types of debts regardless of the difficulty or creditor financial support.
  • CA offers online access so you can view your account, update personal and creditor information, and stay informed on the progress of your program at your convenience 24 hours a day, seven days a week.
  • At Credit Advisors, we offer multiple payment options to our clients to make becoming debt free as easy as possible, from payroll deductions to electronic funds transfers.
  • Credit Advisors monitors your credit record to ensure your timely, consistent payments are being recorded by your creditors (where allowed); this also provides you an opportunity to address all debts. Most of our competitors do not take this hands on approach to handling your debts because this approach is time consuming and expensive. We believe you deserve nothing less!

There are some things you should consider regarding debt settlement.

Settlements in your favor can generate a tax liability as the creditor is required to report all amounts forgiven (over $600) to the IRS as income. So if you had a debt of $10,000 with a credit card and settled the debt for $6,000 the credit card company would send in a form 1099 to the IRS showing the $4,000 that was forgiven as income for you.

Some creditors will not even discuss settlement arrangements on any account that has not yet reached a charge-off status (I9, R9 or O9). You have to have your credit trashed to even begin negotiations for settlement. These ratings can remain a part of your credit file for up to 7 years from the date of last activity.

Because you are not working WITH your creditors, they will not halt collection activities.  In fact the calls and letters are bound to increase to very stressful levels while you are on a debt settlement plan.  Many people are sued while waiting for a settlement.

You should consider whether you will want to purchase a home in the near future. Some (not all) mortgage underwriters will require you to go back and pay any amounts settled before they will approve an application for a mortgage. At the very least, they will want documentation of the arrangements and proof the terms were kept.

You should consider your employment plans in the near future. If you are employed in a field that requires bonding, licensure, or security clearances, settlements can be a potential problem.

Settling the accounts now will still require you to monitor these accounts in the future. You will have to ensure that they are correctly reported to the credit bureaus according to the terms negotiated. You may be required to send documentation to the credit bureaus to update the information on the settled accounts several times during the life of those accounts on your credit file.

Bankruptcy
Bankruptcies can be very expensive and payment is required up front.  In bankruptcy, your payment plan may be administered through a court-appointed Trustee who will have control of your finances. When you file bankruptcy, you may have to make court appearances, go to creditor meetings, and meet with lawyers and possibly judges, and a public record will be filed, published, and placed on your credit report.  Bankruptcies remain on your credit file indefinitely depending upon the type of file.  They are a permanent court file for the public to see.

Negotiate with Creditors on Your Own
Although technically possible, it’s like asking if you could build your own bridge across a large river. Given the time, knowledge, and resources, you very well could negotiate your own debt management plan. But, if you want to save time, frustration, and money, it’s best to let seasoned professionals do the work for you. You can choose to work each creditor yourself, juggling all the payments and offers, never knowing if you are getting the best deal, or work with your one trusted advisor who knows all the best deals.

Take Out a Loan
To obtain a low interest loan to pay off debts usually means pledging the most valuable item a person owns, such as their house. With this low interest loan one can then pay off high interest credit cards and concentrate on paying off the secured house loan. Now, while this option may be good for some people, there are a few fundamental problems:

  1. You are betting your home that you can make all your payments on time. Although almost all debt consolidation programs insist on timely, regular payments, creditors are likely to work with you if you need to make one or two late payments due to a medical or some other emergency. Pledging one’s very home to pay off excessively high interest payments and debt should be avoided.
  2. By taking out a loan, you’re not taking advantage of the breaks on interest and sometimes even the principal that a credit counseling service can negotiate on your behalf.
  3. You are converting unsecured debt (debt that they can not re-possess your home or car) for secured debt (in which they can re-possess something.) A great deal for the creditor but not so good for you.
  4. Finally, research shows that within a year after consumers transfer credit card debt to a secured loan the credit cards continue to be used and actually have higher balances than before the home loan. The FDIC concluded, “…some consumers will increase credit card and other consumer debt after a debt consolidation package is completed, thereby weakening their ability to repay outstanding debts and increasing the likelihood of bankruptcy.”

Chances are there are a few dings on your report already. Paying off debt is always a good sign. While your credit may initially dip to reflect the new agreements with your creditors, if you complete a debt management plan, you will emerge much more creditworthy.  At the successful completion of the program Credit Advisors will be happy to act as a credit reference for you. Many of our clients go on to buy their first home after they complete our program!

Credit counseling is the process by which a qualified professional assists a consumer in development of a plan that focuses on resolving financial issues in a manner that is best suited for their financial goals.

Debt Management is one such solution to resolving financial issues. The process begins with a certified credit counselor reviewing your situation and helping you determine your short and long-term goals. After the development of a working budget for handling your monthly expenses each of your credit accounts is examined in detail. Then, a repayment plan is developed to fit your needs and meet your creditor’s requirements. During a Debt Management Program you make monthly payments to Credit Advisors. These payments are then forwarded to your creditors in accordance with your plan to become debt free. Many creditors recognize a consumer’s efforts to repay debts through a Debt Management Program by making concessions, such as adjusting your interest rate and lowering required payments to assist your program progress. Credit Advisors works with over 50,000 creditors nationwide.

  1. Lower Payments. Debt Management plans can lower your monthly payments to your creditors by up to 50%.   We work WITH your creditors.   When you join a debt management plan, your creditor is on board with us.   They are willing to lower the payment in some cases to give you the breathing room you need when you are working with approved credit counseling agencies.   By working with a counseling agency, you are proving that you want to repay your debts, not just settle them or file bankruptcy.
  2. Lower Interest and Fees. Creditors often will lower the interest and eliminate late and over-limit fees you are paying so more of your money is going to pay down the principle once you are on an approved plan.  Creditors can be your best partner on the road to debt free living.
  3. No more creditor calls – On a debt management plan, the Creditor is your partner!  Unlike debt settlement, the creditors have approved of this plan up-front.  They will stop calling and nagging you.
  4. SAVINGS – The beauty of interest reduction is that instead of simply paying the interest and barely scratching the surface of your debt, you can start paying down the principal immediately. In the same way that debt seems to snowball out of control, a successful DMP can yield surprisingly quick results. Below is an example of what you might save in interest charges if you participated in a DMP and owed a credit card company $3,500:

Total Payment Not Using Service–$7,069.98

Total Payment Using Service–$3,184.98

Amount Saved–$3,885.00

*While results vary depending on your debt, in most cases savings are significant

 

  1. One Place to Pay – You can now sit back and let Credit Advisors handle your money and payments. No more juggling, worrying who to pay first, or going to the post office.  We take care of all those decisions and payments.
  2. Out of debt quicker – Because you are paying less in interest, you get out of debt much quicker on a debt management plan than if you go it alone.

Watch out for companies that want to cherry pick your debts by only handling credit cards. They are not working for your benefit. At Credit Advisors we recognize that there are other types of debt that can create problems for consumers. Due to this, CA will also include in your program medical bills, personal unsecured loans, post repossession balances, old utility bills, student loans, state or federal income taxes, personal/family debts, certain payday loans and other unsecured debt.

A good credit counseling service will treat you with respect, have certified credit counselors to assist you in developing an action plan around your needs, be accredited through BVQI or other certifying company, have a good record with the Better Business Bureau, offer financial education, and have depth of experience. Credit Advisors has been in business for over 60 years!

 We also recommend you do your own independent research but be wary of new, fly-by-night debt management and debt settlement companies. Remember that if something seems too good to be true, it probably is.

Credit Advisors provides many advantages over other counseling agencies. Here a just a few:

  • Many counseling agencies rely primarily on creditors to fund their service and as such there appears to be a conflict of interest. This encourages them to favor creditors that are in their best interest not yours. So, are they really representing you or the creditors?
  • Some agencies charge a flat fee regardless of what you can really afford. We believe you should only have to pay what you can truly afford.
  • Credit Advisors will allow you to divide your monthly payment between pay periods. We don’t require one large payment a month.
  • CA has a much lower counselor to client ratio than most other agencies.
  • Many agencies will only handle debts that are easy to negotiate or debts to those creditors that contribute a percentage of funds back to them. Credit Advisors handles ALL types of debts regardless of the difficulty or creditor financial support.
  • CA offers online access so you can view your account, update personal and creditor information, and stay informed on the progress of your program at your convenience 24 hours a day, seven days a week.
  • At Credit Advisors, we offer multiple payment options to our clients to make becoming debt free as easy as possible, from payroll deductions to electronic funds transfers.
  • Credit Advisors monitors your credit record to ensure your timely, consistent payments are being recorded by your creditors (where allowed); this also provides you an opportunity to address all debts. Most of our competitors do not take this hands on approach to handling your debts because this approach is time consuming and expensive. We believe you deserve nothing less!

There are some things you should consider regarding debt settlement.

Settlements in your favor can generate a tax liability as the creditor is required to report all amounts forgiven (over $600) to the IRS as income. So if you had a debt of $10,000 with a credit card and settled the debt for $6,000 the credit card company would send in a form 1099 to the IRS showing the $4,000 that was forgiven as income for you.

Some creditors will not even discuss settlement arrangements on any account that has not yet reached a charge-off status (I9, R9 or O9). You have to have your credit trashed to even begin negotiations for settlement. These ratings can remain a part of your credit file for up to 7 years from the date of last activity.

Because you are not working WITH your creditors, they will not halt collection activities.  In fact the calls and letters are bound to increase to very stressful levels while you are on a debt settlement plan.  Many people are sued while waiting for a settlement.

You should consider whether you will want to purchase a home in the near future. Some (not all) mortgage underwriters will require you to go back and pay any amounts settled before they will approve an application for a mortgage. At the very least, they will want documentation of the arrangements and proof the terms were kept.

You should consider your employment plans in the near future. If you are employed in a field that requires bonding, licensure, or security clearances, settlements can be a potential problem.

Settling the accounts now will still require you to monitor these accounts in the future. You will have to ensure that they are correctly reported to the credit bureaus according to the terms negotiated. You may be required to send documentation to the credit bureaus to update the information on the settled accounts several times during the life of those accounts on your credit file.

One of Credit Advisors certified credit counselors will review your situation in an open, non-judgmental manner and provide possible solutions. We will help you develop a budget that fits your situation, discuss any questions or concerns you have about credit and debt, provide you with guidance in setting both short and long term goals, and work with you to create an action plan for you to use to immediately begin working towards reducing your debt. We are committed to helping you reach your financial goals.

Starting a Debt Management Program begins with a credit counseling session with a certified credit counselor who will work with you on your budget, goals, and questions. During the process of developing your personal action plan, the certified credit counselor may recommend a Debt Management Plan. Once you decide to commit to the debt management plan and your documentation and first payment is received, notifications (known as ‘proposals’) are sent to each of your creditors with information such as the amount of the lower monthly payment. The proposal also requests a variety of concessions for your accounts from creditors during the duration of your program.

Most Debt Management Programs are voluntary for all parties: you, the creditors, and the credit counseling agency. Over time, you pay down the debt with help from us and your creditors. In bankruptcy, your payment plan is administered through a court-appointed Trustee who will have control of your finances. When you file bankruptcy, you may have to make court appearances, go to creditor meetings, and meet with lawyers and possibly judges, and a public record will be filed, published, and placed on your credit report.

Yes, almost certainly. Creditors want to get paid as much as they can, but they also understand that some money is better than no money. In other words, creditors participate in Debt Management Programs and will accept payment through Credit Advisors. We work with Visa, MasterCard, American Express, Discover, major banks, credit unions, finance companies, collections agencies, and literally tens of thousands of others in an effort to help you manage your finances.

Yes, by enrolling in a Debt Management Program, creditors (credit card companies, collections agencies, etc.) should stop calling you. If a creditor contacts you after you have enrolled, it is usually because the collector working for the creditor is unaware that you have signed up for the service. Once the creditor receives notification from Credit Advisors and makes a note on your account of your intention to repay your debt through us, harassing phone calls from collectors will stop. This process can take anywhere from 30 to 90 days depending upon the creditors’ policy, but many clients experience immediate relief.

By signing up with Credit Advisors, you are taking a positive step in your life to get out of debt. Making charges to your credit card accounts, while you are on the program, only creates more obstacles to be overcome as you are working to achieve your goal of becoming debt free. Depending upon their policies, your creditors may close your credit card accounts. Whether they do or not, Credit Advisors recommends that you don’t use your credit cards. Every effort is made beforehand in preparing your budget to make sure your payment plans are realistic and offer you some financial breathing space. Following the completion of your Plan, some creditors will reestablish your credit based on your current ability to pay and your payment history while still in the plan. It depends on the creditor and their policies.

Any charges or costs to you are determined at the time the Debt Management Plan is developed while reviewing your budget (income, expenses, and amount of debt). We use a sliding scale based on what you can afford to pay after covering your living expenses and determining what your creditors need. The cost, if any, is worked into your monthly payment. Though many companies are non-profit, they may still bill you for certain services. This should be expected, as fees are simply helping to defray operating expenses for the services.

Although technically possible, it’s like asking if you could build your own bridge across a large river. Given the time, knowledge, and resources, you very well could negotiate your own debt management plan. But, if you want to save time, frustration, and money, it’s best to let seasoned professionals do the work for you. Remember, a successful credit counseling service such as Credit Advisors has years of experience and contacts in the field, working with creditors on a first name basis. Some creditors actually finance a portion of the administrative costs of a debt management plan and provide the best concessions through such a program, so in many ways it does not make financial sense to negotiate it for yourself.

Credit Advisors has been in business since 1958. We are the oldest debt management company and we have thousands of satisfied clients nationwide. All the bills are still in your name, and the creditor statements still come to you. Any payment that Credit Advisors makes on your behalf will show up on your statements from the creditors. You will also receive monthly statements from us (either by U.S. mail or email) showing how much you have paid and to whom the money was sent. In addition, as a Credit Advisors client you will be able to access your account as well as update your personal and account information on line at any time through our e-Progress member site access program.

Just as your debt snowballed due to high interest charges, obtaining lower interest rartes slows the growth of debt and allows more of your money to go to debt reduction rather than interest. More importantly, using a debt management Plan allows for “debt roll down”. The natural inclination when a debt is paid off is to use those monthly payments for a discretionary purpose — buy something new, go out more, upgrade your electronics, etc. When on a DMP, the monthly payment dedicated to debt reduction stays the same. When one account is paid, those funds are “rolled down” so payments to another debt increase. This speeds the process along. This process saves you thousands in interest over the course of a 5 year program. It also explains why a debt that will take 23 years to pay off at the current rate can be eliminated in 5 years.

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Credit Advisors has been offering debt consolidation programs longer than anyone else. Our certified debt counselors can help you with credit card debt relief, credit card consolidation, consumer credit counseling, bankruptcy certification, bankruptcy questions and all other kinds of help with debt. If you want to get out of debt and have been considering debt settlement, credit management, debt management, credit repair, bankruptcy or consolidation, we provide the best debt counseling and steer you toward a plan that is in your best interest. We are not a loan company, debt settlement company or credit repair organization. We provide credit counseling and plans that work to get you on the road to debt free living.

Credit Advisors Incorporated is licensed to provide debt management plans in the states of Arizona, Colorado, Iowa, Indiana, Kentucky, Michigan, Nebraska, Oregon, and South Carolina.  They are approved or otherwise compliant in Alaska, Florida, Missouri, Ohio, Texas, and Washington.

Credit Advisor logo 4

Credit Advisors has been offering debt consolidation programs longer than anyone else. Our certified debt counselors can help you with credit card debt relief, credit card consolidation, consumer credit counseling, bankruptcy certification, bankruptcy questions and all other kinds of help with debt. If you want to get out of debt and have been considering debt settlement, credit management, debt management, credit repair, bankruptcy or consolidation, we provide the best debt counseling and steer you toward a plan that is in your best interest. We are not a loan company, debt settlement company or credit repair organization. We provide credit counseling and plans that work to get you on the road to debt free living.

Credit Advisors Incorporated is licensed to provide debt management plans in the states of Arizona, Colorado, Iowa, Indiana, Kentucky, Michigan, Nebraska, Oregon, and South Carolina.  They are approved or otherwise compliant in Alaska, Florida, Missouri, Ohio, Texas, and Washington.

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