Medical crises, job loss, large bills, and unexpected hardships can all be reasons for falling into debt. Whether you see it coming or not, it can be challenging trying to get out of debt—especially if you, like many, weren’t taught how to carefully budget earlier in life. If you’re struggling with credit card debt, seeking help from credit counselors can give you much-needed support and guidance.
Your Credit Counseling Appointment
When you meet with a certified credit counselor, you can decide whether you want to meet via phone, video, or in-person, giving you options and flexibility that aligns with your busy schedule. Whichever way you decide to communicate, you’ll be meeting with someone who understands your situation and is ready to tackle it in a way that’s customized to you.
Budgeting and Education
On the day of your appointment, your counselor will go over your entire budget, recommend an action plan and budget revisions, and answer all your questions. Because you’ll be evaluating your overall financial picture, you’ll want to make sure you have your current bills, credit card statements, and household expenses pulled together and available so your counselor can go over them with you—and provide context for fees you may not understand. If you’re baffled by credit reports, your counselor can also provide a deeper understanding of your report and what it means for your financial situation.
Credit counselors will help you develop a budget or overhaul an existing one so that it’s more manageable. And if you’re interested in becoming more financially informed, they’re happy to direct you to events, workshops, and literature than can help you become more financially savvy.
Once you and your certified credit counselor have gone over your finances, they may decide that you qualify for a debt management plan. If you enroll, creditors typically reduce monthly payments, and they’ll combine your unsecured debt (credit cards, medical bills, collection accounts, etc) into one monthly payment that’s affordable for you, designed to be paid off in three to five years. As you pay off your creditors over time, you will pay less in interest, and your debt will diminish—leading to a financially healthier you.
Benefits of Debt Management
One monthly payment | lower interest rates | no more debt collector calls | improved credit score
Make your no-obligation - FREE - counseling appointment now