A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Quick Credit Lesson #39:
Credit counseling helps you consolidate all your unsecured bills to one simple monthly payment, reduce interests rates to 6-12% and hence finance charges, eliminate late fees and over limit fees, and help you in creating a financial picture for your future. The debt management program helps you re-think your financial goals and assist you in getting to that goal. Certified credit counselors assume a variety of roles while helping clients resolve outstanding debts. They create a relationship with someone who is actively seeking positive change.
Garnishment - Legal seizure of a portion of assets (such as wages, bank accounts, etc.) in order to repay a debt.
Grace Period - Period of time in which you can avoid finance charges by paying off the balance before the due date.
