Get the Lowdown on Credit Counseling

Credit counseling, also called debt counseling, 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.

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 you are 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.

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.