Credit counseling educates consumers about how to repay their debts and better manage their personal finances. This one-on-one counseling is customized to the client’s unique situation. An NFCC-certified consumer credit counselor can help consumers by crafting a new budget and debt repayment plan, all of which is informed by the client’s own financial information. Some clients need the additional help of a formal Debt Management Plan, though the majority benefit from credit counseling alone.
Credit Counseling Explained
Whether they are conducted in person or by telephone, our counseling sessions are confidential and offered free of charge. There are no eligibility requirements for obtaining counseling assistance. You submit information about your income, living expenses, and debts, which your counselor will use to create a personalized action plan and budget to help you repay your debts.
What happens in credit counseling?
Gathering Your Information
- You supply information about your personal finances.
- We recommend gathering your most recent paystubs, credit card bills, household bills including utilities, and an estimate of how much you spend on food and transportation per month.
- The more complete and up-to-date your information, the better our advice will be.
Begin Credit Counseling
- Discuss your debt and personal finance situation with your counselor.
- Your counselor reviews your budget with you and offers targeted advice to help you control your spending.
- Your counselor analyzes your debts and educates you about effective repayment strategies.
Create a Plan
- Your counselor will prepare a new budget for you based on your unique circumstances.
- Your plan will guide you toward repaying your debts.
- If your circumstances warrant it, your counselor may propose a Debt Management Plan (DMP).
Credit Card Payoff Calculator
Use our calculator to determine how long it will take you to payoff your credit cards if you only make the minimum payments.