Today, I want to offer some information about Care One Credit Counseling and then you can decide if you would like to use their debt relief services.  Care One Credit offers both debt consolidation and debt settlement.  They will offer you debt consolidation first and then if that plan does not work for you, debt settlement.  Debt consolidation is where you take all your debts and put it into one new loan and extend the payoff term and lower your monthly payments into one monthly payment.  While this may work for some, it will not work for everyone.

Let's take a closer look at Care One Credit Counseling.  Here's a short review:

Pros:

While most companies require you to have at least $7,500 in unsecured debt to be qualified, the company will accept clients with only $2,500 unsecured debt.  They offer 24/7 access to your account. They consolidate your debt payments into one convenient monthly payment.  The company will work for you to reduce your interest rates, waive late fees and to give you peace of mind, eliminate collection calls.

Cons:

Your credit report and credit score are negatively affected because they will show "account being managed" or "consumer is in credit counseling."   This may discourage future loan approvals at attractive rates from other credit card companies or financial institutions.

Costs:

15% of your debt plus monthly service fee.  Even though it may be promoted as non-profit, there are fees to be paid. 

Guarantee:

N/A

Rating:

4 Stars

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