Get Out of Your Credit Card Debt Legally

Many second mortgage companies have has partnered with a home equity lenders to create loan programs specifically designed for consolidating debt that lower your monthly payments, and help you refinance revolving credit cards.

Paying creditors less than agreed will significantly harm your credit score, as creditors will report payments late if they do not cover the minimum payments. This is where consumer credit counseling can hurt you. In addition to causing late payments to be reported, entering a consumer credit counseling service cam permanently scare your credit, because the credit bureaus report that you are in consumer credit counseling programs. Many home equity lenders will consider Consumer Credit Counseling or CCC as a Bankruptcy. Under the Fair Credit Reporting Act, accurate information about your accounts can stay on your credit report for up to seven years.

If you do not qualify for a secured mortgage to consolidate your debt, consider debt settlement or bankruptcy.

Homeowners Consider Second Mortgage Loan to Consolidate Credit Card Debt Prior to Filing BK Or CCC

Credit Counseling - Sample Late Payment Explanation Letter

If you have a lot of debt, it pays to consider consumer credit counseling. Often, once a person is in debt, it can seem incredibly difficult to reverse this situation. The following are just some of the many things to expect from credit counseling or a debt relief program.

Often, debt relief programs focus on consolidation options. Often, a debt relief program is as much about dealing with debt as it is teaching people how to manage their finances.

Investing in a debt relief program is important if you want help figuring out how to manage your debt.

Consumer Credit Counseling - What to Expect From This Debt Relief Program?

Hector Milla Editor of the "Credit Card Debt Counseling" website -- -- pointed out;

The purpose of this letter is to inform (credit card company) of my current financial hardship.