Credit Counseling: DebtMD

What is Credit Counseling

If you are struggling to navigate your financial challenges and take control of your debt, Credit counseling can be a valuable service for you to consider. DebtMD gives you access to professional counselors that will work with you to understand your financial situation, including your financial goals. With a clearer picture of where you are today and where you want to be, our partners develop a tailored debt management plan to help you take control of your financial health. You will also receive the education you need to develop the good habits that promote financial wellness.

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Demystify Credit counseling

Credit counseling is a valuable service that provides personalized advice, financial education, and often, a tailored debt management plan. Ultimately, credit counseling is a supportive service aimed at empowering you to make informed financial decisions and work towards a debt-free future.

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Take the long term view

Credit counseling isn't just about finding a quick fix to your debt challenges. It’s about taking a long-term view and developing the habits necessary to repair your credit and improve your overall financial health. With the guidance of a professional credit counselor you will have the tools and knowledge necessary to make informed money decisions.

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Tell us how much you owe, what your interest rate is, and when you wish to be debt-free, and we'll let you know what your monthly payment should be.

Pros and Cons of Credit Counseling

Pros

Personalized Advice: Credit counselors provide personalized guidance designed to meet your needs and fulfill your personal goals
Debt Management Plans: Professional Credit Counselors often help create debt management plans that often feature ways to lower your interest rates.
Financial Education: Credit Counseling typically includes financial education, empowering you to make informed decisions that take you out of debt and towards financial freedom.
Creditor Negotiation: Credit Counselors are also great negotiators who can fight with your creditors on your behalf, to waive fees or lower interest rates, for example.

Cons

Potential Fees: While many agencies offer free counseling sessions, some may charge a fee for their service.
Impact on Credit: Credit counseling often involves setting up a debt management plan, which is often reflected on your credit.
Commitment Required: The solutions prescribed by your credit counselor may involve some difficult lifestyle changes to ensure that you stay on track and stay the course.
No Immediate Fix: Credit counseling is not a quick fix. It takes time and requires not only patience but discipline.

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