| August 1, 2012

Growth Slows in Q2, Consolidated Responds to Financial Concerns

FORT LAUDERDALE, Fla–As the economy grew at the slowest pace in almost a year, many consumers are worried about their financial situation.

According to the Commerce Department, our gross domestic product grew at an annual rate of 1.5 percent from April to June, down from 2.4 percent in the first quarter. The economy needs to grow about 3 percent a year to reduce unemployment rates, according IHS Global Insight, a strategic analyst and forecasting firm.

This harsh economic situation translates into thousands of consumers calling Consolidated Credit to receive financial help. The number of calls the organization receives daily has risen 15 percent since September of last year and counselors now get more than 1,200 calls a day.

In an effort to help consumers solve their financial problems, Consolidated Credit provides answers to the most common credit card debt questions.

My debts are out of control, what should I do?

Paying more than the minimum amount due is crucial. Any amount paid over the minimum goes directly towards the balance owed. This allows debt to be paid off faster reducing overall interest. Pay off high interest rate debt first. Once high-interest debt is paid down, tackle the next highest, and so on. Continue paying the minimum due on all other debts. If this seems unmanageable, a debt management program may be able to help. Overall debt repayments are cut dramatically by lowering interest rates for qualified consumers and they try to lower monthly payments to fit into a person’s budget. It typically takes three to five years to pay off all the debt put into such a program.

How can I lower credit card interest rates?

Consolidated Credit always advises people to call their creditors to ask for an interest rate deduction. If this fails, then they should call credit counseling agencies to see if they can help. Credit counseling agencies have relationships and agreements with creditors to provide consumers with lower interest rates.

Will a debt management program have a negative impact on my credit, and if so, for how many years will this be reflected on my credit report?

Credit counseling usually does not have a negative impact on a credit report. Using a debt management program usually enhances credit reports because all included unsecured debts are being paid on time every month. Some creditors list ‘being paid via credit counseling’ on credit reports.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

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With this amount of debt, you'd pay around $xx.xx on a DMP.

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