Credit counseling refers to a service that offers guidance and support to individuals and families regarding their finances and debt management.

• Purpose: To help people understand their financial situation, develop a budget, and create a plan to manage and pay off their debts.
• Services Provided: Credit counseling agencies typically offer services such as:
  • Reviewing your financial situation
  • Creating a budget
  • Developing a debt management plan
  • Providing educational materials and resources
  • Negotiating with creditors to lower interest rates and monthly payments
• Nonprofit Organizations: Many credit counseling agencies are nonprofit organizations, and they often offer free or low-cost services.
• Benefits: Credit counseling can provide valuable assistance to people who are struggling with debt or need help managing their finances. It can help them avoid bankruptcy and improve their credit score.