Credit Repair and How To Achieve It

Credit Counseling Repair Training - Resource Site

October 17th, 2007 Subscribe To Our Feed

Change Your Fortune And Go For Credit Counseling Repair Training

The Wheel of Fortune keeps turning. It never stops. This means that at any time you are always on the Wheel, with its inevitable journey’s through good times and bad. The good news is that you can influence your luck or fortune. With self-discipline, fortitude and good credit repair counseling, you will get back on top. Military bases, colleges and university campuses, credit unions and even some banks offer low-cost or even free credit counseling repair training. You must follow their advice and make certain lifestyle changes if you’re serious about getting back to the top of the Wheel.

Why File For Bankruptcy?

Bankruptcy might seem like an easy solution, but it’s not. For one thing, you will need a couple of thousand dollars to pay for a bankruptcy lawyer to properly and legally file for bankruptcy, and, bankruptcy plays havoc with your credit rating. Any bankruptcy could be on your credit record for at least seven years. This will make it hard to get back on your feet, even if you manage to repay all of your debts.

The Bankruptcy Abuse Prevention And Consumer Protection Act of 2005 can often save you from filing for bankruptcy when you really don’t need to. You are given 180 days to receive credit counseling repair training before you meet with your creditors. This credit counseling repair training is mandatory. You must use a government-approved service and have proof that you have taken the classes on money management and debt reduction. To find credit counseling repair training service in your area, check out the Federal Trade Commission’s list on www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm or visit the bankruptcy court in your area and get them to provide you with the information.

What You Will Get

Depending on the service you choose, you will receive credit counseling repair training either in person, online or over the phone. It is usually best to go in person if at all possible. The initial session will take a couple of hours. The most you should ever pay for a session is $100. Considering the education about savings and money management you will receive, this fee will be good value for money.

The FTC recommends that you ask a number of questions to a credit counseling repair training service before you sign anything and these should include:

“What services will be provided?”
“What services will not be provided?”
“What are your fees and what if I am too poor to pay them?”
“What relevant qualifications do the councilors have?”
“Are your employees paid anything extra if I sign up for any service they offer me?