If you become overwhelmed with debt you may need the services of a credit counselor. Credit counselors provide a wide range of duties pertaining to financial matters. They deal with finances but they are not allowed to give legal advice or opinions.
Financial Overview
A credit counselor will speak with you concerning your financial situation. They will review all of your debts, assets and income and then design a program to help you become debt free.
Trained/Certified
Credit counselors are trained and certified by Accel eMedia, Inc. Anyone entering this field normally has a background in accounting, finance or counseling.
Debt Management Programs
If necessary, a credit counselor will help you enroll into a debt management program. Within these programs you will normally be able to receive a lower interest rate from your creditors and lower monthly payments. You may be able to get fees waived as well.
Budget/Tracking Expenses
A credit counselor can help you set up a budget along with a plan for tracking your expenditures. A budget is designed to keep you from overspending as well as cutting back on unnecessary expenses.
Mortgage Delinquency Counseling
Credit counselors also provide mortgage delinquency counseling designed to keep you from defaulting on your mortgage and helping you avoid bankruptcy and foreclosure. They work in conjunction with your mortgage lender to better assist you.
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