I am in credit counseling in canada. I am in a position to pay off my credit counseling and I am wondering if I should pay it through the credit counseling or pay the credit cards directly. ( I prefer to pay them directly as it is a large amount of money)
2007-03-25 14:28:09 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
As long as you are in the service, why not just knock it out with them? Is there a reason not to? I guess the way I see it is if you have already trusted them with your reputation (to help you rebuild it) and with as much money as you have already paid the service to redistribute for you...and they haven't betrayed you...then you shouldn't worry about a larger amount at one time. If you are specially concerned, do something official like a certified check, an affidavit, or whatever, stating that this amount is enough to complete your payments and ask for documentation where the money goes (which they do anyway, I'm sure.)
This way, far as I know you just pay one person, or whatever...and you are done. Will they close accts for you too?
If you wanted this, or if it was in the arrangement for them to shut it all down once your debt was gone, I would let em handle it. In a month or so, call all of your creditors and make sure that your business with them is over.
Way to go! You didn't rob a bank or anything did you? ahhhaha!!
2007-03-25 14:34:20 · answer #1 · answered by musicimprovedme 7 · 0⤊ 0⤋
"Credit counseling agency are filled with experts, to help you get out of debt. These agencies have programs which helps to solve the problems.
Debt management programs helps you to prepare a budget which help you to tackle the situation. You make an agreement with the agency to start the process of clearing your debts completely. The counseling agency then negotiates with your lenders, and fix a lower monthly payment.
Money management programs helps you gain more financial knowledge which leads to improvement in overall financial situation. As your knowledge about finances develop, your chances of getting into the debttrap in the future are minimized."
2007-03-26 00:41:34 · answer #2 · answered by stone m 2 · 0⤊ 0⤋
i would use the counceling service because more and likely they have made a deal with your creditors to give you a discount and not charge you so much intrest and if you dont go thru them then you may have to pay out more money
2007-03-25 14:39:52 · answer #3 · answered by family fan 3 · 0⤊ 0⤋