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2. Try Free Credit Counseling to Avoid Bankruptcy If you are thinking of filing for bankruptcy, stop before it is too late. Bankruptcy can be very damaging to your credit standing. Imagine having no credit for the next seven to ten years, do you think you can live with that? If you can’t live with the scenario of having no credit, then it is time to get credit counseling before you make a decision that can adversely affect your future.

3. Being The Experts In The Field Credit counseling is a service that is provided by many companies as their way of helping people who are in need of debt relief. Some companies charge fees for their counseling services because they pride themselves as being the experts in the field of counseling. For those of you who want to rid yourself of debt but do not have enough money to pay for these services, you can avail of free credit counseling.

4. Free Credit Counseling Agencies As much as those paid services will help you, free credit counseling does very much the same thing. People are often skeptical about these free credit counseling agencies because they wonder how they can operate without the necessary funds.

5. Lend Out Money To Their Clients Their skepticism is well accounted for because people know that these agencies are funded by the credit card companies and banks that lend out money to their clients. The credit card companies and banks would rather have negotiations with the delinquent clients through free credit counseling agencies than to have them default by declaring bankruptcy.

6. Elimination Of Debt Usually, free credit counseling agencies offer debt consolidation as a method for the elimination of debt. Debt consolidation is useful when you are tired of getting all those bills each month and you do not know where to get the money to pay them.

7. Late Fees And Penalties These bills are often delayed and they are charged with late fees and penalties which will bring you more debts. The benefit of working with free credit counseling agencies is that they will negotiate with your creditors to lower the interest rates and extend repayment terms.

8. Declaring Bankruptcy Now that you know that there is actually a way to stop yourself from declaring bankruptcy, it is very crucial that you take the first step as soon as possible. Availing of the services of a free credit counseling agency will greatly help you in the elimination of your debts.

9. Finding A Credible Agency It even keeps you from damaging your credit standing in the future. Finding a credible agency that will help you with your financial woes is not difficult because there are many agencies out there that are willing to help you. So, don’t take that step to bankruptcy just yet and see what the amazing results of working with a free credit counseling agency can bring.

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