What It Is, Who It’s For, and How It Can Help
THE FINANCIAL WELLNESS DIGEST
Have you ever wondered if credit counseling might help you? Most of us have never stopped to even think about what credit counseling is until we find ourselves facing a financial roadblock. Credit counseling isn’t just for those who need to improve their financial health — it can also help you to be more proactive in maintaining your finances.
What is Credit Counseling?
Credit counseling, also called debt counseling or credit coaching, is a process that helps people manage their finances and solve problems with debt. Credit counselors work with people to:
- Manage money and debt
- Create a budget or spending plan
- Understand credit scores
- Learn about options, tools, and educational resources for getting out of debt
Through a credit or debt counseling session, a credit counselor can help you figure out your situation and make your own personal plan. They’ll explain different options for getting rid of debt and achieving your financial goals. Every situation is different, so the advice and information a credit counselor shares will vary depending on what makes sense for your circumstances.
Who Can It Help?
Credit counseling is for anyone who wants to improve and maintain financial health. Maybe you’re looking to buy a house, or refinance your car, or be prepared for financial changes. It’s a great option to help you be ready for whatever your financial life throws your way. Credit and debt counseling could be helpful if you want to:
- Get out of debt
- Make and live on a budget
- Improve your credit
- Relieve stress and anxiety about your finances
- Buy a house or save money for a big goal
If your finances are stressing you out, or if you’re worried about debt, credit counseling can give you a sense of relief. In fact, a recent study conducted by our partners at GreenPath found that 90% of people who speak with a GreenPath financial counselor feel better prepared to handle their finances.
There are no rules about how severe or mild your financial concerns need to be. We encourage you to trust your instincts, and if you sense that talking with someone would help, credit counseling is a great step to start a new chapter in your financial life.
How Does It Work?
Our credit counseling services are provided through our partnership with GreenPath, who conduct most of their counseling sessions by phone. The first person you talk to will ask you some questions about your financial situation and what you need, and they will connect you to a financial counselor who is an expert in that area. A typical counseling session takes about an hour and includes:
- A review of your financial situation
- An overview of different options for accomplishing your goals
- Recommendations for your situation
- Development of a personalized action plan to support you on your journey
Each GreenPath credit counseling session is tailored to your individual needs.
Learn More with a Free Counseling Session with Our Partners at GreenPath
If you think you could benefit from credit counseling, we encourage you to take the first step and call our partners at GreenPath Financial Wellness today. GreenPath credit counseling sessions are free, no-pressure, and 100% confidential.
We are proud to partner with GreenPath to provide our Members with financial wellness education, counseling, and debt management services.