A debt counselor helps people get out debt with a variety of strategies and plans. They also provide you with mechanisms designed to help you solve your financial problems. Debt counseling is also designed to help keep you from going back into debt. A debt counselor will also help you set up a budget designed to help you control your spending. A trained certified debt counselor can also provide you with information about money management, saving money, bankruptcy and even mortgage information. You can learn about debt counseling using several resources.
Instructions
- 1
Contact a debt counselor at the National Foundation for Credit Counseling. This is a national organization that provides debt counseling to a variety of individuals who are financially stressed. You can speak to a counselor and ask questions about their program. They also have financial education classes that provide information about a variety of topics.
2Practice putting your own budget in place. One of the things a debt counselor will help you with is preparing a budget. Get a budget worksheet and put your own budget in place. A worksheet allows you to enter all sources of income into the template, as well as your expenses, which include your mortgage payment, rent, entertainment, credit card debts and other costs you may incur on a monthly basis. You can practice decreasing various expenditures to make sure you stay within your budget.
3Take a credit counseling or debt management class. New bankruptcy laws that went into effect require anyone looking to file for bankruptcy to take a credit counseling class. The class has to be approved by the United States Bankruptcy Court. There is a small fee involved. When the class is over, you will receive a certificate. Classes are about two hours long and cost approximately $50.
4Contact debt relief companies and find out about their programs. They help debtors consolidate their debts and set up a plan that allows debtors to pay less than their monthly payments.
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