The benefits of credit counseling and debt management
When your financial troubles feel overwhelming, credit counseling and debt management programs can help you find your way out of debt and reach your financial goals.
If you feel like you’re drowning in debt, you’re not alone. The average American household today has $8000 in credit card balances, and many people are just one emergency expense away from financial disaster. Nonprofit credit counseling services can help you take back control of your financial situation, modify the behavior that led to your debt, and take action to get out of debt once and for all.
American Consumer Credit Counseling (ACCC) offers free credit counseling and low-cost debt management plans that represent the first step in your journey out of debt. When you’re ready to take positive action to put your financial troubles in the rearview mirror, the credit counselors at ACCC can help.
What is debt management?
When you come to ACCC for credit counseling, we may recommend a debt management plan to help pay off your debt. A debt management plan combines credit counseling and debt consolidation to simplify your finances and make it easier to pay off your debt.
In your first debt management counseling session, we’ll develop a realistic budget that will let you put money toward your debt each month without asking you to make unsustainable sacrifices. Next, we’ll consolidate all of your payments to creditors, allowing you to make just one payment each month to ACCC. Our team will then disperse those funds to your creditors on your behalf, dramatically simplifying your finances and making it easier to make on-time payments.
Along the way, we’ll approach your creditors to ask for reductions in interest rates and finance charges as well as late fees and over-limit fees. This helps to reduce the total amount of money you out. We may also try to re-age your accounts, so you have more time to pay them off, lowering your monthly payment.
ACCC: credit counseling, debt management, financial education
Since 1991, ACCC has been educating consumers on credit and debt management and helping individuals and families make a plan to live debt-free. As a non-profit organization, we are dedicated to helping you take control of your financial future by providing free and low-cost services with access to expert credit counselors. Our counselors are highly trained and certified to assist you with a wide range of financial needs.
Your first credit counseling session with ACCC is free of charge. During this first hour, we’ll evaluate your situation to get a solid read on your finances. We’ll review your income and expenses as well as your assets and debts. Next, we’ll lay out all the options for managing your debt, and the pros and cons of each. Your ACCC counselor can help you settle on the best approach for dealing with your financial situation.
One of the biggest benefits of credit counseling and debt management with ACCC is knowing you’re not alone. Our team provides ongoing support and financial counseling as you work toward a debt-free future.
The value of non-profit credit counseling
Credit counseling and debt relief firms fall into two categories: non-profit and for-profit. Non-profit credit counseling services are offered free or at very low cost, while for-profit agencies tend to charge significant fees. Non-profit firms offer financial education designed to help you manage money effectively and develop healthy financial habits. For-profit agencies usually don’t offer this type of education – their business model relies on people who are heavily in debt, after all. And non-profit agencies will recommend sound approaches that won’t ruin your credit rating or leave you more deeply in debt. In contrast, for-profit firms often promote high-risk strategies that can trash your credit rating, add to your debt, and may even create legal trouble for you.
Bottom line, when you’re looking for reputable credit counseling services, it’s wise to choose a non-profit organization.
Why choose ACCC?
With credit counseling and debt management from ACCC, you get:
- Expert advice from certified and highly trained credit counselors
- Proven strategies based on 30 years in the credit counseling industry
- Help from a reputable company that’s accredited with the Better Business Bureau with an A+ rating
- Free credit counseling
- Fees for debt management programs that are among the lowest in the nation
- Convenient services offered six days a week in English and Spanish
- Outstanding customer support with ongoing counseling as long as you need it
- Strict confidentiality – your personal financial information is safe with us
- Free educational materials and financial tools to help you learn more about effective money management
FAQs: What is credit counseling and debt management?
What is credit counseling and debt management?
Credit counseling is a service provided by financial professionals that helps consumers manage difficult financial situations, improve their credit, and get out of debt. Debt management plans are programs offered by credit counseling services that offer an effective way to pay off debt over time, without ruining a consumer’s credit rating.
How do I choose a credit counseling agency?
When considering a credit counseling agency, it’s wise to choose a non-profit organization that has been in business at least 7 to 10 years. Look for a firm with credit counselors who are certified by an independent organization, and a firm which has a strong record with the Better Business Bureau. The best credit counseling agencies are members of a national credit counseling trade association. And reputable firms will offer free credit counseling and low-cost debt management services, with options to waive fees for consumers who can’t afford them.