Does Credit Counseling Really Help?

by Jennifer Watson Blogger | Writer | Social Media Geek

Over the past few years, reporters and consumers alike have wondered many times whether ‘credit counseling’ really works or not. To reporters, it’s a case of legitimacy for those in debt while debtors themselves wish to know whether this solution will get them out of debt or not. The bankruptcy consultants at EmpireOne Credit Solutions took the liberty to explain what credit counseling means for clients who choose to take the option through the agency and if it helps or not.

Credit Counseling Programs: What Are They?

This is an important question and it’s about time somebody took the initiative to answer it. For a long time the concept of credit counseling has been promoted as one of the best options for individuals to make use of when having trouble with managing debt. In point of fact, credit card issuers are required by the Credit Card Act to publish a toll free number on card statements from where consumers can easily get credit counseling help.

Since data regarding the success or failure rates of credit card programs is hard to come by, this cannot be said for sure whether consumers know of the act or not. Regardless when asked, counseling agencies don’t shy away from pointing just how many consumers they have helped, or talked to about the many educational services and benefits provided.

Some Background Info: How Does Credit Counseling Work?

It’s important to know just what the process is all about, as more often than not it’s not the concept that’s at fault but the way it’s carried out. As far as the credit counseling program at EmpireOne is concerned with, the process is fairly simple and straightforward. In fact the agency claims to provide clients with simple credit counseling solutions to even the most complex problems and covers bankruptcy to credit and debt counseling as well as effective repayment programs and consumer proposals.

Debt Management Programs (DMP) like the ones offered by EmpireOne after looking and analyzing each unique case does work for the most part. As most consumers and debtors look for low interest rates and payments, opting for a DMP is the best way to get both. In addition, the convenience of having to pay only one monthly payment to the agency as opposed to several payments to multiple creditors is a major factor why consumers enroll in such programs.

Clients that use debt management and bankruptcy consulting services in Toronto also mention a visible improvement in their credit spending habits. You won’t know whether this will work for your particular case until the service has been tried and tested. Click here to learn more about the debt management program and credit counseling offered by EmpireOne Credit Solutions.