Debt Counseling Assistance For Homeowners And Other Consumers–Help From Outside Sources For Repaying Debt

Continued personal financial burdens have led to various forms of counseling assistance being sought out by consumers, but there are reports that credit counseling agencies are not seeing as many consumers who are turning to them for help and, earlier this year there was funding issues that arose with housing counselors who were made available from the Department of Housing and Urban Development. Yet, debt counseling assistance for homeowners and general consumers is still an option and, as a result of financial strains that are continually weighing down men and women in various areas of the nation, more officials are hoping that consumers will tap into these resources which could be beneficial in helping them find more financial stability, debt relief, and avoid financial problems in their personal life in the future.

While there was recently proposals to reinstate funding that will help homeowners get the housing counseling they need and nationally accredited counseling agencies have always been an option for consumers when it comes to general debt relief from obligations by credit cards or personal loans, questions as to why consumers are not turning to these options has been asked as continued hardships in the housing market and job sector of our economy are still weighing heavily in the lives of consumers in almost every state.

There is speculation, though, that when it comes to housing counseling, funding that was cut from HUD to offer free counseling assistance led many homeowners to move forward without seeking outside aid as there are some housing counseling agencies that may require payment for their services. Yet, there are also some concerns on the part of homeowners related to scams that are being perpetrated by mortgage rescue and foreclosure prevention organizations, so there are worries that some may be hesitant to work with organizations that offer these mortgage assistance plans as they fear they may fall prey to one of these fraudulent offers to help them find debt relief.

Sadly though, there have also been indications from resources like the National Foundation for Credit Counseling that say consumers are relatively low in number in terms of those who are looking for nonprofit credit counseling assistance, even though the CARD Act has made resources available on credit card statements to consumers who may be struggling to make ends meet. There are also scams in this arena as well, but arguments have been made that many consumers can simply run an online search and get information to see whether a particular credit counseling or housing counseling agency is in fact accredited and can provide the assistance they may particularly need.

It’s hoped that recent proposals to reinstate funds for housing counseling will pass and be available to homeowners who are continuing to see housing troubles in terms of their ability to make their mortgage payment and devaluation in their property, but there are still nonprofit credit counseling agencies that can generally help consumers find more affordable options when it comes to repaying debts in other areas of their life, which could free up the funds that a homeowner needs to meet their mortgage payment during these stressful times. While, again, housing counseling assistance that is working in tandem with the Making Home Affordable Program is available and there are numerous credible housing agencies across the nation that are reliable, consumers must properly look into any organization they feel may be helpful as, again, scams are continuing to hurt consumers who are already in a very precarious financial position and may also be dissuading some from seeking out help.