If you have a lot of debt or are having trouble paying your bills often, get credit counseling from a nonprofit agency.
He can help you find solutions to manage your debts, and also show you how to avoid having the same problems in the future. This could help you improve your credit rating.
A credit counselor can help you:
to make a budget;
- understand how you got into debt;
- understand how to get out of debt;
- talk to your creditors to reduce your debts;
- to establish a plan for repayment of your debts.
Usually, the first appointment to review your options is free. Then, if you want more help, there is a fee. Be aware that credit counselors from nonprofit agencies are not there to make a profit with you. If you can’t afford to pay for one, you can request a special price. An advisor may even agree to help you free of charge.
Here are two resources to find a credit counselor from a nonprofit agency near you:
Only credit counselors whose names appear on these two websites are licensed. These professionals must undergo training and observe a code of ethics.
The services offered by credit counselors from nonprofit agencies are different from those provided by credit repair agencies and debt settlement companies.
Apply for a loan from a bank or credit union
Perhaps you believe that the bank or the credit union will not accept to lend you money. The only way to find out is to ask them. Even if they have refused to give you in the past, their decision may be different today.
Even if you have financial problems, your current situation may be different from before. If you now have a regular income, you may be eligible for a loan.
The bank or credit union may also agree to lend you money if you find a co-signer or a guarantor. You can ask a relative or friend to co-sign for your loan.
Loans from banks and credit unions have many advantages that payday loans do not offer. Here are some examples:
The interest rate: banks and credit unions can provide you with an interest rate of more than 20 times lower than that of payday lenders.
The repayment term: for a payday loan, it usually varies from 14 to 28 days and cannot exceed 62 days. Banks and credit unions can lend you for a much more extended period.
The loan amount: The maximum amount you can borrow from a payday lender is $ 1,500. Banks and credit unions can lend you more.
For More About Payday loan or help with payday loan debt you can visit online.