You have finally decided to take a counseling session from an accredited credit counseling agency to finally resolve your financial difficulties. But somehow you would like to know what to expect from such session.
If you are that curious and interested, below are some of the steps and things that will be discussed in your very first debt relief guide program.
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Getting and Verification of Contact Information
The very first step in a credit counseling session would be analysis. You will be required to provide your name, phone number and address, office contact information and other pertinent details to the certified credit counselor. This will be vital in verifying your identity once you enroll in a debt relief guide program from a credit firm, or a non-profit organization.
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Reviewing of Your Monthly Finances
Your credit counseling agency will require you to give it a good picture of your financial status. This will be achieved if you will give your counselor an accurate report of your monthly expenses, like the bills you pay for utility services, groceries and rent. Aside from this, you will also have to provide the agency how much you earn in a month, and the proofs of debts you owe from different creditors. You may be requested to list down all your existing credit accounts and the interest rates imposed on each financial obligation. In so doing, you will be able to help the credit counselor analyze your credit and financial standing for him or her to give you a personalized solution to your debt problems.
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Provision of Solutions and Alternatives
After you have provided the details of your expenses, income and debts, the counselor will analyze your situation. Soon, he or she will provide you different approaches and strategies to solve your debt problems. Most companies that provide credit repair help give you several personalized options to combat your debts. Included in these options are social service assistance, mortgage assistance, self-study materials and debt management programs. Your credit counselor will tackle the benefits and disadvantages of each of them, until you are able to choose which credit repair program you will get.
These are three of the most commonly used steps in credit repair help programs. We hope that by knowing the things to expect from credit counseling, you will be more confident in attending your very first counseling session.
