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LSDefine

Simple English definitions for legal terms

credit counseling

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A quick definition of credit counseling:

Credit counseling is a service that helps people who are struggling with debt. A credit counselor will look at your debts, credit, and budget to help you figure out the best way to pay off what you owe. They can also negotiate with your creditors to lower interest rates and fees. The goal is to help you avoid bankruptcy and create a plan to manage your debt. Non-profit agencies usually have lower fees and are supported by grants, while for-profit agencies charge more. Credit counseling is also called debt counseling or financial counseling.

A more thorough explanation:

Credit counseling is a service provided by a credit counseling agency that helps people manage their debt and finances. The goal of credit counseling is to help people avoid bankruptcy and get out of debt.

Credit counselors evaluate a person's debt, credit, and budget to help them create a debt management plan. This plan allows the person to make monthly payments towards their debt. Credit counselors also negotiate with creditors to reduce interest rates and late fees. They may also negotiate debt relief or debt consolidation.

Most credit counseling agencies are non-profit and offer services in-person, online, and via telephone. For-profit agencies also exist, but they tend to be more expensive for consumers. Non-profit agencies usually have lower fees and charge only for evaluations and the creation of debt management plans.

Examples of credit counseling programs include those offered by universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service.

Bankruptcy law requires anyone filing for Chapter 13 bankruptcy to undergo credit counseling. The United States Trustee Program keeps a list of approved credit counseling agencies for pre-bankruptcy counseling.

credit card fraud | credit default swap

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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