What Does a Credit Counselor Do?

If you’re feeling overwhelmed by debt and not sure how you’ll ever get out, you may be looking for help. In your research, you may have heard of credit counseling and the credit counselors who provide nonprofit support and aid to people just like you. But what exactly does a credit counselor do?

What Does a Credit Counselor Do?

Put simply, a credit counselor is a combination of educator, advocate, and coach. They help you review your finances from top to bottom in order to determine what’s not working and what needs to change.

A credit counselor looks over your bills and debts. With your permission, they’ll also pull your credit report and take a look at your debts and the status of those debts. Then they’ll discuss your goals, challenges, and feelings. Together, you and your credit counselor will come up with a plan to help you overcome your challenges and reach your goals.

If your situation warrants it, your credit counselor may recommend that you use a debt management plan (DMP) to help repay your debts.

Are Credit Counselors Trained?

Every credit counselor at MMI goes through an extensive training and certification program.

What Does a Credit Counselor Charge?

Credit counseling through a nonprofit organization like MMI is free. Should you decide to start a debt management plan or use additional counseling services, there may be fees involved, but regular credit counseling is free.

How Do You Connect With a Credit Counselor?

Credit counselors usually work as part of a larger, nonprofit financial education and counseling organization, though some may be independent. You can find a credit counselor or credit counseling agency in your area through the National Foundation for Credit Counseling. MMI also has credit counselors available 24/7, all year long. You can connect with a credit counselor online, over the phone, or in-person in select locations.