The most underutilized resource for debt management and financial advice is credit counseling services. Many people have either never heard about credit counseling or they simply assume it is only for those seeking bankruptcy protection. While it is a pre-filing requirement for bankruptcy clients, there is much to be gained from anyone looking for financial help.
Whether you have already filed for bankruptcy or are simply starting the process to get out of debt, a credit counselor is a great place to start. First, credit counseling agencies offer a variety of resources. They have educational courses that can teach you anything you need to know about money management, investing, tips for finding the right loan, and a review of all your debt relief options.
Also, a credit counselor can provide you with tips for negotiating with creditors, and even do the negotiating for you. People often underestimate the power of having representation when dealing with creditors. After you have resolved your debts or acquired a plan to getting out of debt, a credit counselor can coach you in ways to begin repairing your credit score.
It is important to note that anytime you are facing foreclosure or asset repossession, the best place to start your debt relief search is with a Fort Worth bankruptcy attorney. Foreclosure, wage garnishment, lawsuits and the risk of repossession are time sensitive matters; which means that credit counseling is not likely to help you at this point in debt delinquency.