Nonprofit Credit Card Debt Consolidation You Can Trust
Credit Card Debt Consolidation is an important decision and you have a few things to consider before signing your name.
If you decide to consolidate your credit card debt with a financial institution, you may have to apply for a secured loan against an asset that will serve as collateral, most commonly your house. We'll be frank. The notion of you taking out a secure loan and using your home as collateral, to consolidate credit card debt, is a very risky decision with obvious downsides -- the recent turmoil in the housing and financial markets makes this evident.
If you decide to consolidate your credit card debt with a for-profit debt consolidation company, you may have to apply for an unsecured loan, in which you do not have to put up collateral. In this case, you will be signing your name to an unsecured loan to payoff your other unsecured debt. This type of unsecured debt consolidation loan is very rare and equally risky. The amount of trusted companies offering debt consolidation loan programs without collateral are scarce.
At Springboard, we offer a risk-free way to consolidate credit card debt payments. When you receive your free credit counseling session, ask about how to consolidate your payments into a Debt Management Plan. If you qualify, you get to pay one monthly payment to your credit card companies and you benefit from the incentives they may offer you without putting your home or other assets at risk. Talk to one of our credit counselors and find out how to enroll today or scroll down to continue reading more about our debt management services.
Rebuild a Responsible Credit History
When you begin a Debt Management Plan (DMP) with Springboard, your credit lines are closed and you agreed to not use credit while on the plan. These are noted on your credit report and in the short term your credit score can potentially go down. You will also be denied if you apply for credit, but that is because you have just agreed not to use credit. As soon as you complete or leave the DMP, you are again eligible for new credit. The DMP notation on your credit history is not a negative mark, so don't expect that to harm your credit score now or in the future.
In the long term, your credit score will begin to reflect your regular credit payments, credit lines being paid down and pre-existing late accounts being brought to current. These are all positive credit history marks that can make a significant long-term impact on your credit score.
Our Credit Card Debt Consolidation Services Top Benefits
When you decide to partner with Springboard Nonprofit Consumer Credit Management, you'll experience the benefits of having expert credit counselors and personal finance educators to support you. We believe the cornerstone of financial security is a strong financial education. You'll learn money management and personal finance tips that will benefit you and your family for a lifetime.
If you decide to sign up for our credit card debt consolidation services, you will get these immediate benefits:
- Make one convenient monthly payment to pay down unsecured debt
- Negotiate reduced fees and/or interest rates from your creditors
- Well-planned household budget to help you save more and pay-down debts
Our Credit Card Consolidation Accreditations
Springboard is a 501(c)(3) nonprofit organization founded in 1974. Our mission is simple, yet vital: our people improve the lives and financial well-being of individuals and families by providing quality financial education and counseling services. Reputable counseling agencies like Springboard demonstrate their credentials be undergoing rigorous audits and reviews from independent third party regulators.
We proudly wear the following accreditations and memberships:
- Accredited by COA (Council on Accreditation)
- Accredited by HUD (Housing and Urban Development)
- Accredited by NHCA (National Housing Counseling Association)
- Founding member of HPF (Homeownership Preservation Foundation)
- Members of the Southern California Better Business Bureau
- Members of the NFCC (National Foundation for Credit Counseling)
- Members of FCAA (Financial Counseling Association of America)