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Debt Consolidation Review: DebtWave Credit Counseling – Review

Published by admin on December 17, 2009

DebtWave Credit Counseling

DebtWave Credit Counseling is a California based company which was operational in November, 2001. The realized a huge oppurtuny with the increasing number of customers in the country seeking relief from debt burden. The professional management of the concern thought of extending their expertize exclusively to customers with a extremely high debt burden. These clients, if not professionally advised would likely be heading for bankruptcy.The primary aim of the concern is their high commitment in reduction of the debt burden of the customers.

DebtWave Credit Counseling credentials speak highly of expertize in the domain. They are:

v 501 ( c ) 3 Non profit company

v Member of one of the largest Debt Management Association, the American Association of Debt Management Organizations (AADMO) since 2001.

v Accredited A+ concern by the the Better Business Bureau.Accredited since 2003

v ISO Certified since June 2003

v The National Council of Certified Credit Counselors (NCCC) trains the credit counselors of the concern to keep them updated with the market.

v Recipient of ToP Ten Review Silver Award

The concern planned to enter the market and seize the market share in a planned manner. The credibility of the credit counselling agents is of hiugh importance to the debt ridden clients. DebtWave Credit Counseling helps out the clients in the following domains – Debt Management Evaluation, Budgeting evaluation, Credit Report Evaluation, Foreclosure evaluation, Debt Management Program; Knowledge on Financial education program. The concern lays a lot of stress on the financial education as that is a vital resource in removing debt. Delrays charges a nominal amount from the clients. The Debt Management services, the charges vary for the clients

Their income comes primarily from the creditors who frequently hire their services to get rid of the extremely sticky accounts. The creditors prefer this as a better option than writing it off as a bad debt. The counselors of Debt Wave act as a mediator between the client and the creditors. They first ensure that there is a single payment to all creditors of the unsecured loans segment. Counselors negotiate with the creditors to minimize these so that there exists some inflow atleast towards the agreement value Creditors claim amounts include high interest charges for delayed payments. The concern does not provide services in the domain of debt settlement. Debt Management cannot be fulfilled unless a disciplined approach is followed. It is mandatory to ensure that the single monthly outflow is not delayed and payments are on time.Thiis reflects the good intentions of the client amidst adversities.

Debt Wave Credit Counseling advises clients not to takefresh debts during this time to increase the debt burden.Their initiative to educate the customers how to simplify living heavily under credit burden is creditable. Their recommendations of repayments are helpful as the same is framed after thoroughly understanding the expenditure nature of the clients.Customer Service offered bt the concern is pleasant. Discussions over telephone and mails are helpful and clients are inspired after talking to experienced people. The module of the Debt Management is only applied by the counselors of Debt Wave Credit Counseling on those clients who have a feasible option of trying to repay their debt

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