subject: Get Your Financial Life Back on Track with Debt Counselling [print this page] Get Your Financial Life Back on Track with Debt Counselling
If you are worried or overwhelmed by debt, consider debt counselling services to help you find a solution. One of the major stumbling blocks to owing money to multiple creditors is embarrassment. The good news is that all meetings and advice with counsellors are confidential. These counsellors are highly trained to deal with a number of financial difficulties and they realize that "good" people can have "bad" debt problems.
Whether you are still paying your bills on time but see problems ahead or you are avoiding the phone because of harassing creditors, seeking the professional services of a counsellor can be the most important move you make. The first step toward financial freedom is always the toughest but the good news is that being debt-free is an achievable goal.
The First Step
Typically the first step in debt counselling is evaluating your current budget and lifestyle. In order to find ways to help you in your financial situation, your counsellor must know where your money goes. Which bills are priorities? Typically, these expenses are for rent, utilities, food and medications. Expenses incurred in the course of doing your job are also evaluated as are those little extras like mobile phones, satellite television, dining out and vices like tobacco and alcohol habits. Your assets and current debt load are closely scrutinised.
Many people are surprised by the amount of money that "leaks" out of their budget each month. A coffee to go here and a few fast food lunches there can really add up. You will likely be required to bring with you a number of things to your meeting with a debt counsellor. Things like bank statements, investment paperwork, all of your bills and any court documents or paperwork regarding income and debt are needed.
The Role of a Counsellor
In addition to evaluating your budget and studying your debt load, a counsellor will likely take the role as intermediary between you and your creditors. They can typically make those harassing phone calls and letters stop. Your counsellor can help you create a new budget and spending plan, often including a way to help you save money each month. Their advice and expertise in dealing with creditors is invaluable as they often know the right things to say and do in order to get financial problems straightened out.
With money problems, there is an obvious need for the services of a counsellor. Why struggle with these issues alone, compounding your stress? Debt counselling can help you dig your way out of debt to financial freedom.
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