Facing a mountain of consumer debt is stressful and frightening. Many consumers turn a blind eye to their finances and hope that their problems will resolve themselves. Unfortunately, avoidance is not a realistic option, especially in the world of credit scores, interest rates, and bills that need to be paid. But despite the financial burden of credit card debt, the good news is that consumers don’t have to go at it alone. Credit counseling is a great option for those looking to take control of their finances. If you are considering seeking professional financial help, it’s helpful to know the advantages of credit counseling.
Advantages of Credit Counseling
If you’re struggling with debt reduction, seeking assistance from a professional credit counseling agency can reduce your burden. While there are many advantages of credit counseling that you may be aware of, some of the perks are lesser known.
Here are some of the main advantages of credit counseling:
- Professionally trained & certified credit counselors to help you evaluate your current financial situation.
- A detailed review of your income, assets, and expenses.
- Personalized options based on your goals, which may include social service referrals, educational materials, and a unique “get out of debt” plan.
- Debt Management Plan (DMP) is the most popular debt relief option. If a DMP is your best option, your counselor will offer the complete program and details.
- Financial literacy skills, tools, and resources at your disposal.
- Help and support throughout your debt relief journey.
- Additional financial resources in one place. American Consumer Credit Counseling also provides housing assistance, bankruptcy counseling, and student loan counseling.
Each individual’s needs vary, and thus so should each credit counseling session. The certified credit counselors at American Consumer Credit Counseling will supply consumers with the specific resources to improve their financial lives.
Standards for a Credit Counseling Agency
While there are many advantages of credit counseling, not every company has your best interest at heart. With this in mind, you should aim to protect your interests. Here are some factors to look for in a reputable credit counseling agency:
- Non-profit organization
- Have been in business for at least seven years
- Licensed in your state
- Charge no minimum fees and are prepared to waive your fees if you simply cannot afford to pay them
- All the counselors should be certified
- Member of one of these organizations: the NFCC or AICCCA
To learn more about credit counseling, managing debt, or other financial services, schedule a free credit counseling session with us today.