Consumer Credit Counseling Law and Legal Definition
Consumer credit counseling is a process where a debtor gets advice from a financial professional about the best way to get rid of his/her debt. Most credit counseling companies are non profit credit counseling agency that helps consumers to take control of their financial lives through credit counseling, debt consolidation and financial education. Credit counselors of the consumer credit counseling centers will assist the debtor’s in analyzing their current financial situation. The credit counselors will also provide personalized options based on debtor’s goals, and will help the debtor to create an individualized plan to pay back debt. The credit counseling services further provides long term financial success, as well as short term debt management programs and debt consolidation.