When you’re struggling to pay off credit card debt or other unsecured debts, you may want to consider credit counseling services. These services can help you become financially stable and debt-free. What is credit counseling? How does it work? Here’s what you can expect when you choose to work with a credit counselor.
What Is Credit Counseling?
A credit counselor is someone who can help you regain control of your financial situation. They’ll provide you the support and resources you need to get your finances organized and become debt-free.
A credit counseling agency will typically help you with:
- General budgeting
- Debt management plans
- Bankruptcy counseling
Depending on your financial situation, the counseling agency will recommend a plan that will benefit your financial situation the most.
You could be debt-free in 24 to 36 months.
How Does Credit Counseling Work?
Once you’ve found a credit counseling agency that you’d like to work with, you’ll meet one-on-one with a credit counselor. During your first session, you’ll thoroughly review your financial situation with your counselor. Typically, you’ll review:
- Your monthly income
- Your existing debts
- Your monthly expenses including groceries, utilities, entertainment, etc.
- Your current credit card balance
- Any other financial obligations
You can expect your first counseling session to last about an hour and offer follow-up sessions to ensure you have the help you need to get financially stable.
Once you’ve reviewed your current financial situation, your credit counselor will provide you the resources and support you need. This includes finding a solution that works best for you, teaching you how to manage money, and more.
Why Choose Credit Counseling Services?
The primary purpose of a credit counseling agency is to help you avoid bankruptcy and give you the education necessary to keep you from financial difficulties. The biggest benefit of choosing to work with a credit counselor is becoming financially stable. You’ll have the resources and tools you need to take control of your money and avoid getting into debt.
One drawback to credit counseling is that few people actually complete the debt management plan created for them. Many find they’re unable to follow the plan or make payments on time and eventually quit. If you don’t think you’ll be able to commit to a plan, consider other options such as debt resolution. Debt resolution is designed to help you get out of debt faster, avoid bankruptcy, and get lasting relief from your debt.
Get Your Free Debt Assessment Today
If you’re ready to take control of your finances with a debt resolution program and have better control over your credit card debt, contact CreditAnswers today! Get a free debt assessment to help determine what your next steps are and how we can better help you become debt-free. Get started now!