Credit counseling offers consumers a chance to learn exactly where they
are with their debts and how they can get to a better place financially.
Although many of us might feel nervous or intimidated by having to talk
to someone about our financial situation, credit counseling can provide
you with valuable advice that you might need. More importantly, counseling
can help you make informed choices about your money and give you peace of mind.
Depending on which methods are used, a credit counseling session can go
in a few different directions. In general though, credit counseling starts
with a session that is used to analyze your debt and budget to determine
the easiest and most effective way to eliminate debt.
Credit counseling requires you to be upfront about your finances. Your
counselor will need to know exactly where you stand so they can determine
what you need to focus on and provide you with adequate advice. This requires
an accurate account of your monthly income and expenses, as well as a
detailed list of who you are paying each month. Bring your billing statements
for each creditor and account that you are responsible to the session,
the credit counselor will need this information to gain a better understanding
of the balances that are due, minimum payments owned, and your interest rates.
Overview of Solutions
After the credit counselor has a better picture of your finances and debts,
they will be able to provide you with an overall financial analysis. The
counselor will outline all of your options for eliminating debt in the
fastest way possible that suits your particular financial situation. A
credit counselor can “run the numbers” for you and determine
what it will take for you to become debt-free from credit cards and other
financial obligations within a specific time-frame. In addition to a creating
a personalized plan to help get you out of debt, they can also provide
you with reference materials that will help you continue being proactive
about your finances and prevent future debt problems from arising.
Do you have more questions or concerns about credit counseling? We can help. Contact our Jacksonville team of bankruptcy attorneys
to schedule your free consultation today.