How Does Credit Counseling Work?

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Credit counseling is a valuable service that can be used to help a person deal with their bills and debt. Learn about the differences between public and private credit counselors with help from a registered financial consultant in this free video on credit and personal finance.

Part of the Video Series: Credit & Personal Finance
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Video Transcript

This is financial adviser, Patrick Munro talking about how does credit card counseling work? Credit card counseling is a valuable service that is given out to consumers that run into bumps in the road when it comes to credit problems. They may have fallen behind in their bills, they may be late in their bills, they may be just overwhelmed with the amount of debt that they have taken on relative to the income that comes in to their home and they may recently be downsized or perhaps unemployed as a result of that and the debit does not stop just because that has occurred in their household. So then they retain the services of a credit counselor either a private or a public one. Make sure if it is a private one that the fees are not exorbitant enough and your outcome at the end is going to benefit your family. This is Patrick Munro talking about how credit counseling services work.

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