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Utah Credit Counseling (UT)

Utah Credit CounselingSeeking the help of a respected Utah credit counseling firm could be step one toward freedom from debt.  We match our visitors with reputable credit counselors in Utah.

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Nowadays, lots of credit counseling companies in Utah are financed at least partially through contributions from the creditors. This means most credit counseling solutions are inexpensive.

Out of the 2,763,885 individuals who reside in UT, as many as 101,934 are unable to afford to make their revolving credit payments each month.

Managing Debt in Utah

The average income in Utah is $37,054 per year. A person who has a salary of $3,088 a month should have debts of approximately $1,112 a month. This is 36 percent of their income.

If you earn $3,088 each month and find yourself ponying up at least $1,328 (43%), you’re in jeopardy. Having said that, many Utah consumers spend more than half of their income ($1,575) on these payments.

Do you owe at least $10K of debt or have monthly payments for rent, loans, or credit cards that amount to one half of what you make each month? Then your credit counseling expert may well decide you need to take part in a debt management plan (DMP).

Why enroll in a debt management program? For a start, you might be able to take advantage of:

  • Less Expensive APR Rates
  • Fewer Debt Collector Telephone Calls
  • One Monthly Payment
  • Speedier Debt Payoff

With any debt management program in Utah, the credit counselor will carry out payment to the credit card companies each month. The only thing you need to do is give them the predetermined payment on a monthly basis.

Remember that credit counselors can help you repay your debts more rapidly and at a more affordable rate of interest. However, you will still completely pay down your entire debt plus interest. Although a debt settlement would lessen what you’ve got to pay off, it may demolish your credit rating.

How to Choose a Credit Counseling Company in UT

Assuming that you get an honest company, credit counseling can certainly help. Truth be told, the FTC now demands it for individuals who want to file bankruptcy in Utah and countrywide. But good credit counseling agencies in Utah and throughout the country typically feature:

  • Seasoned Counselors
  • Legit Testimonials
  • Direct Responses to All Questions
  • Gratis Counseling Sessions (DMP’s do have costs)

To learn more, check out this FTC article on the topic.

Needless to say, at Utah Debt Consolidation, we can help you find the very best counseling or debt management program based upon your distinct needs.

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How Much Will Debt Management Save You?

It’s tough to tell how much money you’ll save with credit counseling, but it can often result in lower monthly bills through decreased, even suspended, interest and penalty charges.  To determine how much a DMP could save you, talk with a highly trained Utah credit counselor – today!

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Credit counseling is generally free, but debt management plans aren’t.  How much does a debt management program cost you? Typically $25-30 a month, on top of an initial fee of about $75.  As far as the actual debt payments, you will typically be required to make a payment of 2.1-2.5% each month to your credit counseling firm.

Credit Counseling for Bankruptcy: Utah

More and more people in Utah have been thinking about bankruptcy.  We estimate that 18,048 of Utah’s 2,763,885 residents have been forced resort to bankruptcy.

Within six months of declaring bankruptcy, you must go through an approved credit counseling program and receive a certificate to be presented in bankruptcy court.

You do not have to work with your local credit counselor for this. Programs can be found on the web and on the phone, not just face-to-face.

Some services are able to provide this service, others are not.

For an approved list of approved bankruptcy credit counseling programs for Utah residents, follow the link. Alternatively, you can chat with a seasoned debt advisor by completing this form.

Credit Counseling and Debt Management in Your Town