About Consolidated Credit Counselors

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Consolidated credit counselors are determined to help borrowers fix credit card payment problems, and the best counselors work 100 percent for the customer. Find a diligent credit counselor with information from a financial manager and currency trader in this free video on finance.

Part of the Video Series: Credit Information & Tips
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Video Transcript

I'm Roger Groh and we are here today to talk about consolidated credit counselors. What do they do and how can you use them? Really this is a business that was founded around helping you the borrower fix problems that you've had with credit card payments where you're late or mortgages where you were late. Their job is to represent you to help you renegotiate either the terms or the reporting on what has happened in the past or payments that are going to be made in the future but this is very important. There are two camps within the consolidated group. One is people that actually work for the people that you borrow money from. So it might be a counselor that holds itself out as independent that is actually working for the bank here you borrowed the money. Their whole job is to get as much money out of you as possible to pay back the note. I'm not really sure that that is good for you. The other group are fully independent people where they are paid by you only and if you build a good contract they are paid more if they do a better job. So they might be lawyers, they might be accountants, they might be just counselors and you can google and you can come up with local people in your community, reliable people in your community that can really help you. Just be very careful and aware of whom is paying them. I'm Roger Groh.

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