Debt counseling can provide a real solution for helping you to repair your credit. Most reputable credit/debt counseling organizations are already sponsored by many creditors. Most debt counseling organizations are non-profit, but some may operate on a for-profit basis.
In order to be able to work out a plan with a debt counselor you must have some regular income. They will work out a budget with you to determine the amount of money you can afford to pay towards your debts each month. Then they will contact your creditors and negotiate a lower payment with each of them that you can afford.
After the plan is set up and agreed to by all parties you will begin to make monthly payments to all your creditors. The debt counseling organization may arrange to have a percentage paid to them. It is important that you keep to your monthly due dates because if you dont you could incur late fees.
By far the best way to go about repairing your credit is by taking control of the situation. You can often do this by taking a very hard look at your regular outgoings. We often find we overspend on regular things like weekly groceries and eating out. By cutting back...
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