There are many sources of free counseling for debt management. Many charitable and community organizations offer free workshops and classroom training for managing debt. One-on-one learning opportunities are also available, with some counselors certified by the federal government offering free reviews of your budget and finances. The Federal Trade Commission recommends that you stay away from for-profit companies offering free initial consultations.
Credit Union Foundations
Many credit unions offer free debt management training through their foundations. Workshops and one-on-one consultations are available to discuss managing credit card debt, mortgage debt and other financial obligations. The training often starts with basic information that can be helpful, including understanding the warning signs of excessive debt, how to negotiate with lenders, improving credit through debt reduction and more. Credit union foundations exist to serve the public and are an ideal option for free debt management advice.
Nonprofit Credit Counseling
Credit counseling agencies, such as those affiliated with Consumer Credit Counseling Service, specialize in debt management. Virtually all counseling agencies offer formal debt management plans that require a monthly fee. The programs are useful for people who are severely in debt and looking for alternatives to bankruptcy. However, the agencies also offer free help, including complimentary initial consultations and workshops. Most nonprofit counseling agencies are certified by the U.S. Department of Housing and Urban Development or the U.S. Trustee Program, a part of the Department of Justice. Free debt management advice from a credit is often convenient because many of the agencies offer free consultations over the phone and on the Internet, in addition to in person.
Church Organizations
Free debt management is often available through churches and other places of worship. Training and advice may be formal or available upon request. As a member of the organization, you should feel free to seek tutoring and mentoring from leaders in the organization with strong backgrounds in personal financial management.
Other Sources
Many other sources for free debt management are available. A loan officer at the bank who approved your automobile loan could become a resource for general debt management help. So could your accountant or tax adviser. Getting free advice from a variety of credible sources is a good way to learn about debt management while avoiding problems or working through issues.
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