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But thanks to nonprofit organizations like Operation HOPE — which collaborates with financial institutions, corporations, municipal agencies, and community organizations to help low- and mid-income Americans achieve financial independence — crediteducation is available more widely than ever before. Financial Literacy for All.
Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances. Since then, bankruptcy filers have been required to take both a bankruptcy credit counseling course and a debtor education course.
Educating Yourself on Consumer Credit Sites When it comes to free credit repair and report help, consumer credit sites are a great resource. Browse the Credit.com blog for tons of information on how credit works, how to repair or improve yours, and how to save money when dealing with credit or other parts of daily life.
Instead, I suggest you do what you can to educate yourself about your options. CreditCounselor. A creditcounselor is certified and trained in consumer credit, money and debt management, and budgeting. These companies can be very risky and using them can have a negative impact on your credit score.
Credit Counseling Immediate credit impact: None expected Long-term credit impact : None expected A creditcounselor is a professional adviser who helps you manage and repay your debt. Counselors may offer free or low-cost consultations and educational materials.
If you took out student loans to fund your education, you’re likely feeling a tad overwhelmed by the outstanding balance and impending payments to pay it all back. At this beginner stage, consider meeting with a creditcounselor. This is some of the money advice college grads never get , but definitely should.
Creditcounselors help create budgets, offer free educational workshops, and develop plans to repay debts. One example of a credit counseling agency is Consolidated Credit Solutions , a non-profit organization that provides financial counseling and debt relief services. But that’s not all they do.
Seek Professional Advice : Consider consulting with a creditcounselor or lawyer if you’re unsure how to proceed or if the debt collector is acting in a way that you believe is unfair or illegal. Conclusion The role of debt collectors is a functional, albeit often unwelcome, aspect of financial systems.
Consolidated Credit can help. Consolidated credit’s mission is “to assist families throughout the United States to end financial crises and solve money management issues through education and professional counseling.” If you are struggling with credit card debt and late fees incurred with it, a debt management program can help.
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