PRAVEEN LAM: Best Ways to Find the Right Credit Counselor

There Are Debts (Photo credit: Wikipedia)

Best Ways to Find the Right Credit Counselor

Debt can be very agonizing. Living beyond one’s means and trying to gratify needs instantly are the main reasons why people fall into debts. The easy availability of credit through credit cards, personal loans and car loans has led many people into debts, albeit unknowingly. Debts are unavoidable. You cannot always wait to save money and spend. Typical examples of expenses that you cannot postpone include study loans, car loans, home mortgage and vacation.

People who plan ahead and match their income with expenditure seldom fall into debts, but in times of bad economy even disciplined lifestyle will not help. There are some expenses you cannot avoid altogether. If you are affected by minor debts, making some changes to your lifestyle can bring good health to your finances. The more intensely affected should however seek the help of professional counselors. And more important, you should be willing to accept the advice they will give you.

Selecting the Right Counselor – Points to Remember

Finding the right credit counselor is often a process in itself. There are many of them around, but before you hire their services you need to ensure their competence. You can depend on recommendations from friends, family members or a colleague if they have been through this phase in their life and the counselor had helped them manage their debt efficiently. A non-profit organization is another ideal place to seek counseling, but neither is it a guarantee of good service. You should always use your discretion prudently before you decide on one.

Generally a non-profit agency that has been in existence for 5 or more years is a good bet. The chances of their staying around for many years are brighter than a 1-year old agency. Counseling, you must understand is not a onetime process. You will have to meet your counselor more often, and seek periodical appraisals. Changing your counselor midway can be a big setback to debt management programs once you are into it.

Accrediting Agencies – How they Help Manage Debt

Another test that you can apply to check the counseling competency agency is to check their accreditation though that again is not proof of their standing. If they are accredited to a large trade association like The National Foundation Credit Counseling (NFCC) or (and) Association of Independent Consumer Credit Counseling Agencies (AICCCA) then it points to some degree of credibility in them.

More about the National Foundation of Credit Counseling

You can learn more about the services of The National Foundation of Credit Counseling by clicking here. The NFCC also provides online counseling services for credit, debt and housing related issues. They will also help you get connected to Certified Trained Counselors. Services are available 24 hours a day throughout the year. You can also learn more about – credit, housing, bankruptcy, finance and news related to debt management at their website.

There also have several Consumer Tools that you may want to try. They include calculators, budget worksheets, consumer tips and videos. There is also a self-assessment tool that you will find very useful. You can also use publication and financial resources and subscribe to podcasts to receive education on the various aspects of personal financial management. You can choose your personal credit counselor by clicking here. There are more than 700 agencies accredited to The NFCC operating in all states of the US and Puerto Rico. That makes locating an agency near to the place you live easy.

More about the Association of Independent Consumer Credit Counseling Agencies

The Association of Independent Consumer Credit Counseling Agencies is another accrediting body that you can search to hire a personal counselor. The principal objective of the AICCCA is to provide consumers quality and professional services related to debt management. They have helped millions of people to locate counselors. AICCCA members help consumers by providing debt, housing, bankruptcy and financial management services.

There are 177 counseling agencies accredited here and who are spread across the country. Locating one near to the place you live is easy and you can do it online by clicking on appropriate links. You can choose to avail face-to-face services or through internet whichever way convenient to you. Click here to visit AICCA website, and for more information on member-counselors click here.

Here are some AICCCA resources you may want to try.

• Tips for making home budgets
• Financial Education
• Reference to helpful resources
• Debt Management Programs
• Managing Bankruptcy
• Foreclosure Prevention Counseling
• Pre-purchase counseling and others

At the AICCCA you will also find links to various government & consumer resources like Consumer Protection, Approved Counselors and many other agencies. You should also visit their news section to get latest information, and the members’ area to locate a counselor for your needs.

ABOUT THE AUTHOR:

Kathryn Smith is a tech and entertainment blogger. She identifies various Phone lookup websites to help people stay away from scam calls. She also regularly contributes her findings related to internet marketing, blogging, and other technical stuff.

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It Won't Happen To Me - The Insurance Nobody Talks About

Everyone is familiar with auto insurance and why it is such a good idea. Accidents can result in tens of thousands of dollars in medical expenses and car repair, not to mention time away from work spent healing. In the same way, home owners' insurance and medical insurance protect individuals and families from catastrophic costs, but what about the times when you are unable to work due to a disabling illness or injury? Will you be able to pay your rent or mortgage? Buy groceries? Pay for additional medical expenses?

In America, where 66% of us live paycheck-to-paycheck, according to the American Payroll Association, the answer for most people would be no.

The Costs Of Being Unprepared

Being unprepared for disability is risky, at best. For every four Americans that reach retirement age, one will have been disabled. To compound this problem, most of those disabilities originate away from work, eliminating Workman's Compensation benefits. Without any other support, you may be able to get Social Security Disability Insurance (SSDI), but you will probably have to wait an extended period of time before receiving any benefits and, for most people, the bills just keep coming.

The average SSDI payment is only $1065 a month and can be as low as $500 a month. For most families, that simply isn't enough.

What Happens When You Are Disabled

First of all, you can't work. This means no income, but the bills keep coming in. It also means you will probably have additional medical expenses and you may need to hire a caregiver or physical therapist to help you get back to work.

In addition to the financial problems, you and your family will face additional emotional and physical demands, adding stress to everyone's day.

Stress is well documented as a cause in reduced healing times and increased likelihood of further injury or illness, something you simply cannot afford when you're already down. Being disabled makes even normal daily activities difficult or impossible.

Getting to the store, visiting with friends, or taking your dog for a walk can easily become an ordeal.

Search Out Solutions

Just as you would insure your car or home against financial disaster, you can invest in disability insurance that will provide an income when you are unable to work. Very often, disability insurance can provide 40-60% of your income, helping you and your family to stay financially afloat at a time when your income is nonexistent.

Many employers offer disability insurance as part of their benefits package. Knowing it exists, however, is not enough. You must take the time to understand the details of your policy, such as time constraints and maximum benefits.

If your current disability insurance policy is inadequate to meet your family's financial needs, talk with your employer or an agent about getting the coverage you need. If you are self-employed, disability insurance is an affordable way to protect yourself and your family in case of disability.

Ostriches Get Eaten!

Burying your head in the proverbial sand, pretending that the risk doesn't exist, can be financially devastating to you and your family. In 2007, medical problems were the cause of 62% of all personal bankruptcies. You can reduce that risk to your family by setting aside enough money to pay your bills for 3 to 6 months. This nest egg can mean the difference between recovery and ruin.

Even if you have disability insurance, benefits can take as long as 3 to 6 months to be received. Knowing that you have the money you need for that initial time after disability strikes can provide peace of mind and financial weltering, while you focus on recovery.

Rather than facing financial difficulties along with your disability, you can lighten the load for yourself and your family with adequate financial planning and preparation. There is no reason for a debilitating illness or injury to eat up your retirement fund when you have set aside an adequate nest egg and invested wisely in disability insurance.

Recovering from illness or injury can be difficult enough when you are prepared. Adding the support of an outside income through disability insurance can provide you and your family with the financial support needed on the road to recovery.

Mitchell Nelson writes for MyDisabilityPlans.com, offers comprehensive disability coverage options from various disability insurance providers. Find MyDisabilityPlans.com Google+