How Financial Counseling Works
By working with our certified credit counselors, you'll learn effective money management skills, budgeting tips, and how to become debt free. Our educational programs will teach you more about your financial options and give you the confidence to make solid financial decisions.
1. Contact us.
Please contact one of our certified credit counselors for an individual budget counseling session.
2. Tell us about your current financial situation.
Giving your credit counselor a good understanding of your situation will help them develop options that will work best for you.
This could include:
- Sources of income, wealth, debts and expenses and other information such as wages, savings accounts, stocks, credit card debt, mortgage and car payments, retirement accounts and student loans.
- Budget and finance issues including employment, education, buying habits and substantial purchases.
- Any past or future changes in income, wealth or debt such as illness or loss of employment.
3. We will give you options.
After talking with you about your financial situation, your credit counselor will develop and present several options based on the information you've given them. Depending on your individual needs, those options could include:
- Creating a budget
- Changing spending habits
- Improving saving habits
- Negotiating directly with creditors
- Creating a custom payment plan
- Establishing a debt management plan (DMP)
- Filing for bankruptcy
Your credit counselor will discuss your options with you, ensuring that you understand each option.
4. We will help you find a solution.
Your credit counselor will discuss the advantages and disadvantages of each option based on your particular financial situation. You and your counselor will work as a team to determine the best solution to meet your needs and match your goals.
5. We can also provide support.
Your credit counselor may also refer you to support services in your community. These support services can help you on the path to debt reduction and may include employment, training or psychological counselors. Pioneer Credit Counseling has established a trusted network of community resources to aid you in your journey of financial independence.