credit counseling
Financial advice service
Credit counseling is professional guidance for people struggling with debt or financial management.
Credit counselors review a person's finances, help create budgets, and may negotiate with creditors to lower interest rates or establish repayment plans.
Many nonprofit agencies offer credit counseling free or at low cost: After maxing out her cards, she sought credit counseling.
- debt consolidationCombining multiple balances owed
- debt reliefReduction of obligations owed
- repayment plansScheduled debt reduction agreements
- payment planArranged installment schedule
- bankruptcy lawsStatutes governing debt relief
fresh start · consumer protection laws · budgeting · money management · nonprofit · free consultation · debt forgiveness · financial scams · loan restructuring · advocacy groups · financial hardship · spending habits · loan modification · refinancing · interest rates · consumer rights · collection agencies · complaint resolution
- personal financesavings, income, investments, bills, auto insurance
- creditcreditworthiness, creditor, creditors, creditworthy, FICO
- debt helpdebt consolidation, debt settlement, debt management, debt forgiveness, repayment plans
- financial reliefdebt relief, bailout, loan forgiveness, debt forgiveness, stimulus
- debtdebt, creditor, owe, debtor, lender
- money managementsaving, savings, budgeting, budget planning, expense tracking
credit counselingbankruptcy
Legal status when insolvent
predatory lending · loan sharking · foreclosure · debt collection · repossession
credit counselingreckless spending
Careless use of funds
compulsive spending · overspending · living beyond one's means · impulse buying · conspicuous consumption
credit counselingpayday loans
Short-term high-interest borrowing
debt consolidation loan · debt settlement · balance transfer · debt avoidance · defaulting