Considering Credit Counseling?
When you are considering credit counseling, it is important to know what you are getting into. Credit counseling may be an option for you, and talking with a local attorney, like Ryan J. Ruehle, can help you assess you options and protect your interests. When appropriate, our firm will suggest credit counseling instead of bankruptcy. Everyone's situation is different.
Our law firm has three convenient locations — our main office is in Cincinnati near the courts and we have an office in West Chester and one in Northern Kentucky. We can easily be reached by contacting us about your debt concerns.
Understand the Difference Between Credit Counseling and Debt Consolidation
Credit counseling and debt consolidation are not the same thing. Understanding the difference between the two and using a firm with a local office can save you thousands of dollars and protect your future. To protect yourself from fraud, stay away from internet based agencies with no local office.
Credit counseling is a service for many debtors who have primarily credit card debt. Most credit counseling agencies can reduce interest rates. However, there are many disadvantages when compared to a Chapter 13 repayment plan. For example, credit card interest can be eliminated in Chapter 13 rather than reduced a few points. At the law offices of lawyer Ryan J. Ruehle, we can talk with you about credit counseling as a resource.
Unlike credit counseling, many debt consolidation companies ask debtors to stop making monthly payments on their credit cards and start making payments to the debt consolidation company. Unlike credit counseling, these companies do not pay the creditors monthly. Instead, they hold payments until the account goes to collections. At that time, they try to settle with the creditor — or third-party debt collectors — for a lesser amount. The results can be disastrous.
That is why working with someone you trust is always your best option. At the law offices of Ryan J. Ruehle, we encourage our clients to work with someone local, someone like us whom they can meet face to face. To contact us with your credit counseling questions, call (513) 777-0880 (Ohio) or (859) 331-7867 (Kentucky) or simply completing our online contact form.
We are a debt relief agency and help people file for relief under the Bankruptcy Code.
