Advice From A Credit Counselor

: Chris Lee Law Firm

  Filed under: Credit Counseling

Credit counseling is one of the most underutilized services among debtors today. While anyone in the Dallas bankruptcy process will be required to participate in a credit counseling course, these services can benefit anyone. The knowledge and information gained from a credit counselor can be invaluable and put anyone in a better financial position.

The Dos and Don’ts

Any good credit counseling agency will be able to offer a variety of services. Whether you are looking for information about how to boost your savings, ways to invest wisely, find a good debt relief strategy or simply plan for your retirement, a credit counselor can help. However, it is often a good idea to start with the basics of smart money management.

  • DO prioritize saving money. Have at least three to six months worth of your salary saved in case financial hardship strikes.
  • DO create and follow a budget. Research shows that people who list their expenses and keep track of their money monthly have more secure finances than those who don’t.
  • DON’T abuse your credit accounts. Debt is essential for maintaining a good credit score, but carrying high balances can be detrimental. Balances should be less than 40% of the total spending limit of the card.
  • DON’T wait until it is too late. Debt management takes practice and purpose. Waiting until you have missed a payment can make debt negotiations much more difficult or leave your secured debt assets at risk of liquidation.

Are you a candidate for bankruptcy?
Would you like to find out if bankruptcy is the right option for you? Try our Free Online Bankruptcy Evaluation. 4 easy steps to see if bankruptcy could be the right option for you!
  • Step 1
  • Step 2
  • Step 3
  • Step 4
Please Select Each Box That Applies To You
Creditor Harassment
Loss of Income
Foreclosure
Disability or Illness
Current Expenses
Auto Loans
Credit Cards
Medical Bills
Payday Loans
Do you have any additional information you would like to share?
Contact Information