A consumer credit counselor can mean new hope for someone who cannot pay his bills, according to the Better Business Bureau (BBB). The BBB explains that consumer credit counselors can help in many ways, from education to help in creating a budget to working with lenders on a realistic repayment plan. You will get the maximum benefit if you know how to properly use a consumer credit counselor.
Step 1
Make a list of your financial goals to act as a framework for your meeting with the consumer credit counselor. The counselor cannot help you effectively unless you can specifically explain the type of help you are seeking. You may just need assistance in tightening your budget and finding ways to cut expenses, or you might need help negotiating with angry creditors. Base your goals on your personal situation and needs.
Step 2
Prepare thoroughly for your appointment with the consumer credit counselor. Get a folder and fill it with everything you will need, such as a list of your income and expenses and copies of all your current bills, including your mortgage, loans, credit cards and utilities. It is better to bring too much paperwork rather than too little. Otherwise your financial plan may be delayed if you do not have a needed document.
Step 3
Make your credit counseling appointment at a time you will not feel rushed or be disturbed. You may go to an office for your appointment, but the FTC points out that many credit counselors work with clients online or over the phone. Make arrangements to eliminate distractions in your house if you are doing a telephone or online chat session. Turn off your cell phone if you are meeting the counselor face to face.
Step 4
Ask questions if you do not understand something or want clarification of certain points. Consumer credit counseling can have a major effect on your financial future, especially if you decide to enter into a debt management plan with the counseling agency. A good counselor will be happy to answer all your queries.
Tips and Warnings
- Incharge.org, a non-profit debt solution company, advises working with a credit counselor who is certified by an independent professional agency such as the Association for Financial Counseling and Planning Education. This gives you assurance that the counselor is properly trained and qualified to help you.
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