What debt counselling can offer me?
People suffering from major debt crises can gain financial literacy and freedom through debt counselling. Let us understand what debt counselling is and what it offers.
What is Debt Counselling?
Debt counselling is a financial service offered and designed to educate the people. People will learn and understand how to pay off their debts, and how to avoid defaulting on their obligations. A session is offered by the debt management team that involves an analysis of the consumer’s financial situation. This includes evaluation of debt reduction strategies for paying off or managing debt and educating people about managing the budget. Debt counselling helps consumers who are struggling with major debt but have a desire to make a change and have control over their financial lives. The session will evaluate and analyze the consumer’s total expenses, interest rate, and outstanding balance. After your financial circumstance has been determined, a debt management plan will be put together and if you are happy with proceeding, it will be implemented. This is where the outstanding amount will be paid off in small installments but over a longer period. Debt counselling will give you a better understanding of what you spend compared to what you earn each month, as well as how much you spend in each budget category. You will be advised where you can lower your spending to meet your monthly commitments, making the debt plan achievable and giving you a structured plan to become debt free.
Outcomes of Debt Counselling
Once you complete your budget assessment, the counsellor will explain to you the Debt management plan for you to reach your financial goals. SingleDebt provides a service that will help you to live a stress-free life whilst managing your outstanding debts on your behalf. SingleDebt offers free debt counselling sessions for people who are looking for a debt-free solution. SingleDebt provides complete information as an additional resource. If you need clarification on any questions you may have, feel free to take advantage of our free counseling sessions. In a larger sense, financial education can help you better manage money and stay out of debt in the future.
What you can expect from a debt counselling session with SingleDebt:
- A full review of your financial circumstance.
- A review of any creditor harassment you may be receiving and a discussion on how to minimize it.
- Learn about the pros and cons of bankruptcy.
- Learn about your spending habits and how to spend more wisely.
- How to budget better.
- Discussion about implementing a debt plan and only paying what you can realistically afford.
- Learn how the debt plan minimizes harassment from creditors and collection agents.
- If you find yourself struggling with debt, a debt counselling session would be advisable. SingleDebt will listen to you to understand your financial circumstance and give the best advice possible. If you are happy to proceed with a debt management plan to pay what you can realistically afford to your creditors and stop creditor harassment, SingleDebt will mediate a debt plan between you and your creditors and start your road to becoming debt free. SingleDebt has a full support line to give you peace of mind every step of the way. Apply for a free debt counselling session today
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. City Credit Management LLP is not liable for any decision arising out of the use of this information.