Debt Reduction Education and Counseling
Debt Counseling Corp (DCC) is a 501(c)(3) not-for profit debt counseling organization, As our name indicates, we provides free debt counseling and education to all who inquire on the topics of debts, credit cards and budget planning.
“Debt Counseling College” © is the division of Debt Counseling Corp that is dedicated to debt reduction education. We counsel and teach consumers about debt, credit, fiscal responsibility and consumer empowerment. Debt Counseling College generates information and materials to individual consumers, social service agencies, schools and all others interested in improving their financial literacy level. All services and materials provided by “Debt Counseling College” are free.
is a program we offer which allows your creditors to significantly lower your interest rates using individualized debt reduction strategies. (click here for more information)
is a way for potential lenders to measure your risk, and to decide if you are eligible for a mortgage, car loan, or other forms of credit. (click here for more information)
is a term related to the Debt Management Program. Re-aging refers to the time when the creditor brings your account current. Most creditors re-age after three consecutive, on-time payments. Once an account is re-aged, all new over-limit and late charges will stop. Harassing phone calls will also stop. Your peace of mind returns!
A is the monthly Spending Plan used to manage personal finances. Using a budget will help you decide how much money to allocate to each category of monthly expenses. Our debt counselors can work with you to help you create a budget that can keep you out of debt while still maintaining a dignified lifestyle. (click here for more information)
is the yearly rate of interest, including fees and other charges. The higher the APR or interest rate, the longer it takes for debt reduction. It will take longer to pay off your credit cards and a significant portion of your monthly payment is applied to paying off interest instead of paying off Principal.
There are two common forms of personal bankruptcy: Chapter 7 and Chapter 13. (click here for more information)
