Columbus, Ohio Credit Counseling Explained

February 18, 2021 at 5:00 AM
Manage your finances better with credit counseling in Columbus, Ohio.

Managing your finances isn’t always the easiest thing to do, and that is especially true in the midst of the COVID-19 pandemic. With workers being furloughed, hours being cut, and entire industries shutting down in response to the coronavirus, many people have fallen even further into debt than normal.

According to the New York Fed’s quarterly household Debt and Credit Survey, consumer debt was at $14.56 trillion by the end of 2020 – the highest it’s ever been. If you’re one of the many people who has been affected by these unprecedented times, then learn how credit counseling in Columbus, Ohio, can help you get your finances back in order.

What is Columbus, Ohio, credit counseling?

A common misconception about credit counseling is that it’s designed to help boost your credit score. While that can certainly be a part of the reason to seek out this service, it’s not the determining factor when deciding whether to reach out to an expert or not. Anyone can receive credit counseling, including people who have high credit scores. Instead, credit counseling in Columbus, Ohio, is more about ensuring you can manage your debt and helping you find the best path forward.

Credit counselors are more like financial educators than credit score boosters. When you partner with one, they will work with you to understand your total debt compared to your income and assets. Once they have a better understanding of your unique situation, they can offer helpful financial strategies and budgeting tips tailored to you. They can often even set up a debt repayment plan on your behalf to help you achieve financial freedom once again.

What type of situations does credit counseling help?

Offer insights when considering bankruptcy.

The decision to file bankruptcy is a very serious one and one that should never be taken lightly. It’ll follow you around the rest of your life and hinder your ability to obtain future lines of credit. If you’re considering doing so, it’s best to speak to a professional credit counselor first. They’ll work with you to see if any other viable alternatives are available, and if not, what chapter of bankruptcy is the best decision for you.

Help managing your debt.

This is one of the most common scenarios for a person to enter into credit counseling, especially these days with finances in such flux. If you simply don’t see a pathway out of the debt you’ve accrued, a credit counselor can provide hope in the form of a realistic strategy. They’ll work with you to assess your situation and guide you towards the best debt relief option for you.

Provide valuable budgeting advice.

Even if you don’t have overwhelming debt at the moment, you can still benefit from credit counseling in Columbus, Ohio, by learning better budgeting strategies. These experts have the knowledge needed to assess your current income and assets and provide you with a plan that allows you to start saving money rather than simply staying afloat. That way, you can avoid taking on more debt than you can handle and have confidence in your financial future.

Do you need help managing your debt?

Then reach out to the highly trained team at DebtHelp, Inc. As Columbus, Ohio’s premier credit counseling provider, we’ve been giving our clients the utmost financial advice for the past 15 years. Our mission in those 15 years has always remained the same: to help you understand and gain control of your debt, credit, and finances.

We can work alongside you as a true partner to understand the situation your facing and lay out a path to once again obtain financial freedom. You can use our free debt calculator to get started, or send us a message to schedule your initial consultation.