In life, nothing comes free. It’s a sentiment that millions of people suffering from debt understand all too well. But, as true as those words are, reputable credit counseling agencies do offer their counseling services free of charge. Living under the burden of unpaid bills and high credit cards is no way to live. That’s why if you’re sick and tired of debt, seeking credit counseling can be a game changer.
How can credit counseling help?
According to the National Foundation for Credit Counseling, a report released in 2016 strongly supports the benefits of credit counseling. Findings showed that 73% of participants in credit counseling now pay their debt more consistently, while 70% have improved their overall financial confidence.
A credit counselor’s goal is to help you attain your credit and financial goals. Credit counselors are certified trained professionals who will analyze your overall financial picture by looking at your household income, monthly expenses, how much in credit card loans you have, and whether you have a budget. Then, they will help you create a budget and suggest a plan of action to bring your debt down. Aside from help managing your finances, credit counselors are educators, so you’ll learn more about managing your financial health.
Credit counseling can often lead to more services that will further aid you, especially if your counselor suggests a debt management plan. Enrolling in a debt management plan means your credit counselor will negotiate with your lenders to consolidate your payments into one affordable monthly payment with lower interest rates.
The most important way credit counselors help is they provide a customized plan to help you manage your expenses and understand your options, which ultimately can provide hope and a better path for your financial future. Credit counseling can be the first step toward a life free of the burden of debt.