While personal financial challenges can be difficult, you don’t have to go it alone. Credit counseling could be your first step towards reaching financial stability. There are accredited credit counseling agencies that can give you the information you need to improve your situation. Here is a breakdown of credit counseling services.
Do you have credit card debt? Are there errors on your credit report? Do you avoid credit altogether and have a low credit score? Any debts in collections? All these things and more factor into your credit. Having good credit means it will be easier for you to get loans and lower interest rates. Lower interest rates usually translate into smaller monthly payments. The better your credit, the more quality opportunities you will have for financing. And for you single folks, is there anything more attractive than an upstanding credit report? (swoon). Remember to also avoid these 5 things that can hurt your credit score.
Credit counseling is a great place to start your efforts to clean up your personal finances. While working with a certified credit advisor, they will help create a road map to get you out of debt and on the right path. To do this, they will take into account things like your income, spending, assets and liabilities and your financial goals. Learning from a professional is a great way to tackle financial obstacles and stay in-tuned with the latest shifts in the industry, like the credit reporting settlement between New York State and the big reporting agencies.
Working with Approved Credit Counseling Agencies
The world is filled with companies promising to erase accurate negative information from your credit report in exchange for a fee. The problem is that the scam artists who run these ads can’t deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit in your credit report. An accredited credit counseling will be able to provide you with that plan. There are several standards to look for as you research credit counseling companies. Here are 6 things to look for in a credit counseling agency.
- Non-profit organization
- In business for at least 7 years
- Have a state license
- Charge no minimum fees
- Have certified counselors
- Member of AICCCA or the NFCC
Want to learn more about the selection process? Watch “What to Look for in a Credit Counseling Agency.”
Now that you know what to look for, it’s up to you to make that call and start repairing your financial life today. To speak to a credit counselor about budgeting and managing your finances, call 800-769-3571.