Credit counseling sessions are convenient and easy. On average, the session takes 30 minutes to an hour to complete. Most of these conversations with a counselor can take place over the phone but some NFCC Member agencies offer online and in-person counseling. Regardless of the format of your session, here’s what you can expect.
late fees and over limit charges.
interest rates regardless of credit score.
bills into one smaller monthly payment.
your debt faster.
your money habits.
First, you will share some basic information that let’s your counselor get to know you better.
Next, you and your counselor will review your financial challenges and goals.
You’ll complete the session with an actionable plan to conquer your debt and more manageable monthly payments!
During your counseling session, a counselor will go over your current financial circumstances. To get a clear understanding your counselor will ask questions like these below:
What is your household income?
What are your monthly expenses?
Do you have a budget?
What credit cards, loans, or other debts do you have?
After covering income and expenses, the counselor may review your credit report and will discuss the options available to you based on your income, expenses and debt load.
List of your current expenses. This should include housing, food, utilities, any phone bills, loans, credit cards, anything you pay for regularly and bills that may be late.
Recent paystubs for you and/or your spouse, so you are able to provide information about your monthly household income.
Recent credit card statements are helpful so you can provide minimum payment information, due dates, etc.