We're here to help. Call us today at 800-719-4910

Receive a free
debt analysis!

get analysis

Credit Counselings

Credit Counseling

A Credit Counseling Program, sometimes referred to as a Debt Management Plan, is a program established by the credit card companies to assist consumers struggling with large credit card balances. Consumers with a large amount of credit card debt, who are able to make their monthly minimum payments, but are not seeing their balances go down each month, may be a good candidate for a credit counseling program.

In a credit counseling program, a financial counselor helps to develop a household budget to determine what the client will be able to pay each month toward reducing their debt. The credit counseling company will then work with the credit card companies to establish a new payment plan under a pre-negotiated interest rate that is much lower than the previous interest rate.Depending on how much credit card debt is enrolled in a credit counseling program, a typical repayment plan can be 4-5 years in length.

During this time, all of the principal plus interest will be required to be paid back. Each month the client will make one monthly payment to the credit counseling agency who will in turn distribute individual payments to each credit card company. Failure to make timely payments in a credit counseling program will cause the repayment agreement to be voided and any interest charges, penalties or late fees that were reduced or eliminated will be retroactively reinstated.

Here are some additional Pros and Cons to consider when evaluating a Credit Counseling Program:

PROS

  • One monthly credit to the payment company.
  • Resolve your debts in 5-7 years.
  • Reducing the interest rates on your cards.

CONS

  • You must pay back 100% of the principal and most of the interest as well.
  • Failure to make payments will results in a default and the reinstatement of interest penalties and fees.
  • Monthly program fees are in addition to the repayment amounts.
  • Your credit card accounts will be closed and you will not be able to use your credit cards.

calculate your financial freedom

Debt Calculators

Call for a FREE Debt Analysis

Learn more about your options and the programs we offer below,
or call us today at 800-719-4910 for a FREE Debt Analysis.
  • I am writing you this e-mail to let you know how happy I am with Americor Financial for getting me my first settlement well before my 4 – 6 months, this was fantastic!! The people at Americor Financial are very easy to work with and they go out of their way to help you in any way they can – would for sure recommend them to my friends and famly. I am very much satisfied with all they have done for me. With their help, my future will be fantastic being debt free, can't thank them enough, for all their help.

    Kathleen Arceo, AZ
  • I found myself drowning in credit card debt. After some research and careful consideration, I reached out to Americor Financial for help. Everyone I spoke with was pleasant and helpful. They made it easy to understand and together we came up with a monthly payment plan that was conducive to my financial state. I was very pleased that one of my creditors was settled after one month. I would definitely recommend Americor Financial to my family and friends who find themselves in a similar situation. With much gratitude to Americor Financial my future will NOT include credit card debt, leading me to a better lifestyle. Overall,my experience with Americor Financial has been exceptional.

    Michael Frawley, NY
  • I was very skeptical about participating because of all the scams. I did a lot of research on debt-resolution companies. After talking with the debt counselors and realizing it is for real and that I would get out of debt, we ended up participating. It was a very good experience and would recommend it to anyone if they are having problems.

    Andrew C, NV
  • I wanted to write a quick note to thank you for helping me. You are so kind! This is a big deal to me to trust anyone with my financial situation. I have tried hard to do it myself. You are my hope to get back on my feet again. I know everything can get better! Thanks to you I know it is OK to ask for help.

    Georgina S, CA
  • Thank you for talking to me. Your personality shows over the phone and you made this process really easy to understand and helped me through all my questions. Your technique and approach worked with me and if I have success with this program (as I’m sure I will) I will certainly recommend your name and number to anyone with a similar situation.

    James K, MA
  • Thank you so much for your help... I feel so relieved. I really like the time period in which all these debts will be cleared up instead of paying on these debts forever and not getting anywhere.

    Sherry A, CA
  • I called tentatively to discuss the delicate matter of my debt. The answers I received were direct and to the point but not lacking in sensitivity and wisdom. I was put at ease and motivated to stay through the program. They took care of the dreadful paperwork and I was comfortable with the work ethic and boundaries that were demonstrated

    Susan V, CA
  • Thank you so very much for all of your personal attention and for going above and beyond with my account. In the beginning, I had numerous companies to handle my business. However, YOU went above and beyond with your excellent communication skills. You helped to explain how the program works in clear, concise language that made it easier for me to understand the whole process. You have always demonstrated rapid response and a lot of patience in educating me and answering my questions. What I appreciate most of all is when you were there for me recently and educated me when my creditors began to call. Your personal attention and human touch helped relieve my anxiety and stick to the program.

    Twyla H, TX

We're here to help. Call us today at 800-719-4910

PERFORMANCE
GUARANTEE

made in Radiant Studio

* Under our debt resolution program, we cannot provide a guarantee that that we will be able to resolve all of your debts that you enroll in our program or that we will be able to resolve your debts for a specific amount or within a specific period of time. Resolving your debts by paying less than you currently owe will likely negatively impact your creditworthiness and may subject you to collection actions or lawsuits by your creditors. We are not a credit repair company and we do not provide credit repair services. Under our program, we do not assume the liability for your debts and we do not make monthly payments to your creditors. If you do not make timely payments to your creditors on your enrolled accounts, the outstanding balances of your enrolled debts will likely increase due to the accrual of interest charges, penalties and late fees as outlined in your cardholder agreement, however, the repayment agreements that we may negotiate on your behalf will resolve the entire outstanding balance on that account including any interest, penalties or fees accrued during your program participation. Any amount of debt forgiven by your creditors may be subject to income tax. We do not provide tax, accounting or bankruptcy advice, and you should consult with an accountant or attorney regarding the potential tax consequences of paying less than the full amount owed on your accounts. Not all of our clients will be able to complete our debt resolution program for any number of reasons, including but not limited to their ability to save enough money during the term of their program enrollment. You should carefully read all program materials prior to your enrollment to be sure you fully understand the terms and conditions of our program.