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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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22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
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