Suze Orman Consumer Credit Counseling
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If you’re struggling to balance your monthly budget, you may have found yourself wondering if Suze Orman Consumer Credit Counseling can provide the assistance you need to get your finances back on track.
About Suze Orman
Suze Orman, born Susan Lynn Orman, is one of the best-known personal finance experts in the United States today. She encourages her fans to take control of their money so they can live their lives by the motto, “People First, Then Money, Then Things.”
Suze Orman’s books include:
- The 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying
- You've Earned It, Don't Lose It: Mistakes You Can't Afford to Make When You Retire
- The Courage to Be Rich: Creating a Life of Material and Spiritual Abundance
- The Road to Wealth
- The Laws of Money, The Lessons of Life: Keep What You Have and Create What You Deserve
- The Money Book for the Young Fabulous & Broke
- Women & Money: Owning the Power to Control Your Destiny
Suze Orman is also the host of a weekend financial planning show for CNBC called The Suze Orman Show, a contributing editor for O, The Oprah Magazine, and the top female motivational speaker in the United States.
About Suze Orman Consumer Credit Counseling
In The Courage to Be Rich, Suze Orman talks about how many people become easily overwhelmed by their debt. Although they want to repay what they owe, they simply don’t know where to start. She writes, “If you doubt you can do this yourself, you must get in touch with a wonderful nonprofit agency known as Consumer Credit Counseling Services.”
Consumer Credit Counseling Services (CCCS), a division of Money Management International, is a non-profit corporation that provides assistance to people struggling with high levels of debt. CCCS is affiliated with the National Foundation for Credit Counseling (NFCC), the largest and oldest non-profit financial counseling network in the United States. For a monthly fee of $5-$15, they enroll you in a debt management program and provide regular financial education classes. Instead of paying all of your creditors directly, you pay CCCS one lump sum each month and they distribute the money as needed.
CCCS allows you to seek advice from an experienced financial planner in person, by phone, or online. Whether you’re struggling to repay your student loans or wondering how you can escape a mountain of credit card debt, CCCS can help. This organization’s confidential services can help you complete a personal financial assessment based on your income, expenses, assets, and liabilities.
For additional information about Suze Orman Consumer Credit Counseling, check out the interview with CCCS on her website. To contact CCCS directly, call 1-866-889-9347.
Credit Counseling Services and Your Credit Score
If you’re experiencing financial difficulties, you may find yourself wondering if Suze Orman Credit Counseling can actually hurt your credit score. Although it is commonly believed that credit counseling will have a negative impact on your credit score, this is simply not true. Typically, visiting a non-profit credit counseling service will not lower the FICO score banks use to determine your credit worthiness. In fact, taking control of your finances to avoid a potential bankruptcy filing is often seen as a sign of financial responsibility and a commitment to smart money management.
Additional Information
To learn more about managing your credit card debt, check out the following helpful articles from LoveToKnow Credit Cards:
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Comments
Zach & Kathy, I am not Suze (Suze Orman does not provide advice on this site), but I would advise you to read the fine print of your Sears credit card contract and call back to speak with a supervisor. It sounds like there may have been a promotional rate of 5.99% for a certain period of time, say one year or 18-months, to entice you to use Sears credit to buy a new stove or washer/dryer. Then, after the promotional period, the interest rate went up to its usual rate.
You may not have any recourse but to pay off your Sears debt as quickly as possible at the higher interest rate, but talk with a supervisor at Sears credit first to see if your good standing will allow you to hold on to the 5.99 for a little while longer.
-- Contributed by: TK2I have a sears credit card with 6,000. it was at 5.99%. It's now at 24.99%. I was not late. I callaed and the woman said the rates went up for everyone. What can I do?
-- Contributed by: zachkathy@hotmail.comHi Kandice - just a couple of thoughts.
-Are you paying for school with student loans? If so, you should have a deferment period before having to repay the loans, usually six months from graduation. This will probably apply to your grad school as well. So you should still be able to cover your school expenses if you continue working at Starbucks for 25 hours a week.
-Perhaps there's a TA position available at your college? This might add to your income.
-Talk with your dentist about payment plans. Many of them have some sort of structure that you can arrange up front. Or perhaps the needed work can be done in increments over a period of a year-18 months. Expect to pay at least 8-10 percent of the bill monthly for a period of time.
-- Contributed by: TK2
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