Anyone retired ever use a credit counseling service? (state, years, payments)

[NYgal1542]

Anyone who has read my posts knows I've got a problem with credit card debt (along with a couple of loans).

I've been wanting to find a way of getting some assistance with paying it. No, I do not mean have the debt magically disappear. I'm more interested in paying my bills since I am the one who created them. I am not interested in comments re going bankrupt. Also, since the interest rates on my two loans are low, I will not be getting help with them, which is fine with me. I know in four years they will be paid off.

I have talked with someone from American Consumer Credit Counseling and find their suggestions and written information to be very interesting. I will have a followup call on Monday to make a decision. Their help would consist of greatly reducing the interest I am paying on these credit cards.

The woman I spoke with agreed that I am living on a pretty tight budget and going with a reduction in interest rates would free up some extra cash so I can breathe a little easier.

Have any of you had to do this type of thing? And if you have, were you happy with the result?

Any suggestions/ideas?

Thank you.

[crusinsusan]

I haven't, but have you looked here: https://www.nfcc.org/

I went to their "About" drop down, then the FAQ, and the 5th question is about the cost, wherein the answer is:

"It varies depending on the support for each member and state laws, but the majority of these services are provided at no or low cost to clients."

I recall reading one of your other posts, in which you mentioned the $50 a month fee, and I felt I agreed with you concerning the cost (seemed counterproductive).

Anyway, hope that helps. They *seem* legit and "trustable". But I've no experience. Good luck.

[NYgal1542]

Originally Posted by crusinsusan

I haven't, but have you looked here: https://www.nfcc.org/

I went to their "About" drop down, then the FAQ, and the 5th question is about the cost, wherein the answer is:

"It varies depending on the support for each member and state laws, but the majority of these services are provided at no or low cost to clients."

I recall reading one of your other posts, in which you mentioned the $50 a month fee, and I felt I agreed with you concerning the cost (seemed counterproductive).

Anyway, hope that helps. They *seem* legit and "trustable". But I've no experience. Good luck.

I have looked at that site, nfcc.org/.

When I first read what different groups have to offer, they all sound pretty "free" or "cheap." However, that is not necessarily true. Once you talk to someone and give the details, things change. I don't know what it is that makes it that way. But she is writing me down as hardship case which really lowers the interest rate.

I will talk more with her tomorrow and I do need to review the info she sent me on the internet.

Thank you for your suggestion, I do appreciate it.

[rjm1cc]

You might write to the cc co and ask then who they work with for consumers that have difficulty paying their bill but want to.

[maggie2101]

At least 30 years ago I used Consumer Credit Counseling which was part of The United Way. I think it cost me something like $8 a month for postage/fees. They are now called Consolidated Credit Counseling and are still affiliated with United Way.

[NYgal1542]

^^^^^^ Maggie2101, thank you for that info. I will be looking them up first thing in the a.m.

[NYgal1542]

rjm1cc: I have talked with them (the credit union) and they have not offered anything.

[jrkliny]

Working with a credit counseling organization to get a hardship interest rate reduction sounds like a good idea. My sister recently did the same thing but at the last minute was able to handle her debt due to insurance payments and other means

[NYgal1542]

Originally Posted by jrkliny

Working with a credit counseling organization to get a hardship interest rate reduction sounds like a good idea. My sister recently did the same thing but at the last minute was able to handle her debt due to insurance payments and other means

Thank you for that information. I am able to make payments now as well but it leaves very little if any to cover any type of emergency that might come up. Kind of like walking on a tightrope.

The one thing I am sure of is that I am definitely not alone. Many people are in same boat as me.

[jrkliny]

Being able to make the payments is only one issue. If you have credit card debt the interest is horrible and a credit card counseling service can help. You should be able to pay off your debts faster and/or have more money left over.