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Ever wondered what is Credit Counselling? There are occasions when you might encounter a financial situation that is beyond your scope which is when a session with a credit counsellor could be beneficial.

If you’re not disciplined enough to create a workable budget and stick to it, can’t work out a repayment plan with your creditors, or can’t keep track of mounting bills, consider contacting a credit counselling organisation. Many credit counselling organisations are non-profit and work with you to solve your financial problems. But be aware that, just because an organisation says it’s “non-profit,” there’s no guarantee that its services are free, affordable, or even legitimate. In fact, some credit counselling organisations charge high fees, which may be hidden, or urge consumers to make “voluntary” contributions that can cause more debt.

Most credit counsellors offer services through local offices, the Internet, or on the telephone. If possible, find an organisation that offers person to-person counselling.

If you are not sure of how to contact a counselling service, check with your financial institution, local consumer protection agency, friends or family as they may be a good source of information and referral.

Reputable credit counselling organisations can advise you on managing your money and debts, help you develop a budget, and offer free Read more…