Debt consolidation is the best way for debtors to come out of heavy debt loads
. And debt counselors are regarded as essential part of debt consolidation agencies.
Chief concerns of debt counselors are as follows:
Complete information
Counselors usually try to make friendly terms with the client to understand different aspect of money taken as debt. First concern of counselors is to understand the type and reason of debts taken by the customer. Moreover, they note down the required information like total debt, interest with which the client is paying to the creditor and the remaining amount to be paid.
Chasing calls
One friendly concern of counselors is to put an end to creditors call for customers. They try to meet directly with the creditor to move forward in this direction.
Debt management solutions
Counselors suggest several debt management solutions to clients to select the suitable one. Solutions are different for different type of debts including secured and unsecured loans.
Monthly consolidation
Counselors fix 'one monthly consolidated amount for the creditor. Before considering any amount, they go thoroughly with the current financial situation of clients. They pay to money lenders through cheque which they send every month.
Interest rates
Another chief concern of debt counselors is to work towards reducing the high interest rates of debts for customers betterment. In most cases, counselors of some advanced counseling agencies try to reduce the interest rate upto 0%.
These are the chief concerns of counselors of modern debt consolidation companies which make debt payment manageable and help individuals from not becoming bankrupt.