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What is Credit Counselling?
Ever wondered what is Credit Counselling? There are occasions
when you might encounter a financial situation that is beyond
your scope which is when a session with a credit counsellor could
be beneficial.
If you're not disciplined enough to create a workable budget
and stick to it, can't work out a repayment plan with your
creditors, or can't keep track of mounting bills, consider
contacting a credit counselling organisation. Many credit
counselling organisations are non-profit and work with you to
solve your financial problems. But be aware that, just because an
organisation says it's "non-profit," there's no guarantee that
its services are free, affordable, or even legitimate. In fact,
some credit counselling organisations charge high fees, which may
be hidden, or urge consumers to make "voluntary" contributions
that can cause more debt.
Most credit counsellors offer services through local offices,
the Internet, or on the telephone. If possible, find an
organisation that offers person to-person counselling.
If you are not sure of how to contact a counselling service,
check with your financial institution, local consumer protection
agency, friends or family as they may be a good source of
information and referral.
Reputable credit counselling organisations can advise you on
managing your money and debts, help you develop a budget, and
offer free educational materials and workshops. Their counsellors
are certified and trained in the areas of consumer credit, money
and debt management, and budgeting.
Counsellors discuss your entire financial situation with you,
and help you develop a financial plan to solve your money
problems. An initial counselling session typically lasts an hour,
with an offer of follow-up sessions.
Be wary of credit counselling organisations that:
charge high up-front or monthly fees for enrolling in credit
counselling.
pressure you to make "voluntary contributions," another name
for fees.
won't send you free information about the services they
provide without requiring you to provide personal financial
information, such as credit card account numbers and
balances.
You may freely reprint this article provided the author's
biography remains intact:
John Mussi is the founder of Direct Online Loans who help UK
homeowners find the best available loans via the http://www.directonlineloans.co.uk
website.
MORE RESOURCES:
Credit - Google News
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