Certified Consumer Credit Counseling

Nonprofit consumer credit counseling is a great way to begin your journey toward financial independence. Whether you’re looking for assistance paying off debt, looking to repair your credit, or learning how to create and utilize a budget to your financial advantage, DebtWave Credit Counseling is here to help.

Credit counseling is a free service offered by nonprofit credit counseling service providers like DebtWave Credit Counseling. Credit counseling is designed to help consumers of all financial backgrounds, avoid bankruptcy and stop living paycheck-to-paycheck.

When you call DebtWave Credit Counseling, Inc. for a free credit counseling session, you'll speak one-on-one with a certified credit counselor about your finances for about 60 minutes.

During the call, a financial counselor will pull a soft inquiry on your credit, meaning it won't have a negative impact on your credit score, but will allow your credit counselor to view your liabilities, account statuses, and credit score. Your financial counselor will also inquire about your financial goals, income, expenses, and debts, in order to provide general personal finance advice including advice on budgeting and managing money.

Monthly expenses your financial counselor may inquire about include:

  • Net Income
  • Mortgage/Rent
  • Auto Loans
  • Student Loans
  • Credit Cards (balances, interest rates)
  • Groceries
  • Gas
  • Internet
  • Cell Phone
  • Insurance
  • Subscription Services (Netflix, Amazon, Hulu, Disney+)

In instances in which a consumer has medical debt, student loans, and/or credit card debt, a financial counselor will share all possible options for paying off that debt. Options financial counselors will discuss for paying off debt include:

  1. Handling the debt on your own
  2. Declaring bankruptcy
  3. Enrolling into a Debt Settlement Program
  4. Liquidating your assets
  5. Enrolling into a Debt Management Program

As part of sharing your options for paying off debt, your financial counselor will share an estimated payoff date, as well as estimates for the total money paid, including interest, in order to pay off that debt.

Solutions vary because each consumer will have varying levels of debt, expenses, and financial goals.

While consumers without debt are encouraged to be proactive about their financial situation by reviewing their budget and financial goals with a certified credit counselor, the bulk of consumers who take advantage of credit counseling services do have credit card debt.

Even if your credit card debt seems manageable, asking a financial counselor to explain credit card terms or assist you in making a budget to avoid financial disaster in the future is highly encouraged.

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