What Are Some Examples of the Money I Will Save By Using A consumer credit counseling Service?

A good consumer credit counseling company can lower your monthly payments and interest rate by 50% for each of your unsecured creditors. In some cases, they can even eliminate interest charges altogether. This way your entire monthly payment will be toward the principal. The savings over the repayment period are dramatic. Below is an example of the typical amount you might save in interest charges if you used a consumer credit counseling service and you owed a credit card company $3,500:

Total Payment Not Using Service: $7,069.98

Total Payment Using Service: $3,184.98

Amount Saved: $3,885.00

How is it different than a loan?