If you live in the state of Arizona then the chances are very good that you have a large amount of debt in your life. This is because Arizona is in the top ten list of places in the United States with the highest debt held among its residents. Not only do they have a higher rate of debt than many states, they are also more likely to have filed for bankruptcy and the amount of people that have defaulted on their students loans is also extremely higher than the average nationally. On top of all of this, research shows that if you live in Arizona then you probably spend more than the rest of the United States when it comes your health insurance costs. That means that is can be harder for you to pay debts off to begin with. With the deck already stacked against you, it might be time to look for credit counseling in Arizona to get yourself back on your feet.
What Is Credit Counseling In Arizona Helpful For?
Seeking out credit counseling in Arizona can help you figure out how to get all of your debts organized and taken care of. They are there to assist you with plan to manage your money, plan to pay off your debts and they have tons of other resources available at no charge to teach you the money skills that can keep you on the right track.
It is important that you not only find credit counseling in Arizona that you trust, but also that you give them all of your information. Now is not the time to be shy about where your money is going.
About Credit Counseling in Arizona
Because the majority of people live paycheck to paycheck, it makes it harder to keep up with your financial responsibilities if something unexpected comes up. Many times, this leads to more consumers relying on their credit cards and then getting to the point that they can only make their minimum payment every month.
If you decide that it is time to look for credit counseling in Arizona, you can find a company that can help you with education on how to put together a budget that you can stick to and even personalize a plan for you to pay your debts off. If it turns out that you need more assistance than just education, then they can also help you set up a management plan and consolidate your debts. This means that they can work with all of your creditors and not only will you be making one payment a month, but it may be lower.
The Effect on Your Score
It’s always important for you to know exactly what you are getting into when it comes to your financial situation. If you have started to look for assistance then you might wonder if credit counseling will have any effect on your credit score. While just undergoing a consultation or working out money management plans won’t have any effect, you should know that some options can make an impact on your number.
If you take part in a management plan or consolidation of your debts, it can lower your credit. This is because it can mean that as your accounts are paid they are closed down. In addition, if the credit counselors use nonpayment as a tactic for negotiation with your creditors, it can also lower your number. These might only have a short term effect and it might still be a necessary step for you to consider, so you will have to take some careful consideration to figure out how far in debt you are.
Make sure that you know exactly what will happen by speaking to the counselor and getting everything lined out before you start on any program. Even with their help, it’s still your credit that you are talking about and you are still the one responsible for any decisions that you make regarding its care.
How to Find Credit Counseling In Arizona
If you are considering the assistance of a credit counselor, then you might be wondering just how you can find a trustworthy company. There are numerous agencies set up to help get the assistance that you need without any further stress.
- You can check the website of The Federal Trade Commission for a list of credit counseling in Arizona.
- The Federal government and the Department of Justice also have sites set up with more information on these types of services offered in your area.
- Try looking for information through The National Foundation For Credit Counseling. They are an agency that was set up to assist in the certification of counseling agencies.
- Don’t forget to check with your state government. They are the ones that license agencies to work with consumers in Arizona, so they can tell you which ones are certified.