Last Updated on February 9, 2024 by The National Debt Review Center
With so many debt solutions out there, it can be hard to know who to turn to when you need help with your credit situation. What is a debt counsellor and what do they do? Whether you owe on payday loans or credit card balances, find out how these professionals can help you solve your financial woes – read more now!
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What is a Debt Counsellor?
A debt counsellor is a professional who helps people navigate their way through the complex world of credit and debt. debt counsellors provide guidance and support to help people make informed decisions about their finances, develop financial goals, and create action plans to improve their overall financial well-being.
Debt counsellors typically have a background in finance, legal or accounting and are often registered & regulated by The National Credit Regulator (NCR). In addition to providing one-on-one counseling, debt counsellors also offer financial education workshops and seminars to groups.
While some debt counsellors work for private companies, many others work for non-profit agencies that provide free or low-cost services. Whether for-profit or non-profit, all reputable debt counselling individuals/agencies should be accredited and regulated by the NCR.
How to find a Debt Counsellor?
There are a few things to keep in mind when searching for a good debt counsellor. First, make sure the debt counsellor is registered, easily accessible and have good reputation. Then, check if the counsellor is accredited or registered with The National Credit Regulator. You can do this by checking on the register of registrant’s website.
Finally, ask about fees and make sure you understand what services the counselor will provide. See the latest debt counselling fee structure
If you’re not sure where to start your search, you can contact us on 0410125036 or use the register of registrant’s website from The National Credit Regulator. This website has a database of all registered, voluntarily cancelled, lapsed and deregistered debt counsellors that you can search by name, NCR registration number or company name.
What does a Debt Counsellor do?
A debt counsellor is a professional who helps people manage their finances and get out of debt. They work with individuals and families to create a budget, negotiate with creditors, and develop a repayment plan. Debt counsellors also provide education on financial management and money management skills.
Types of Assistance a Debt Counsellor do Provide
Most debt counsellors provide three types of assistance:
- Financial education to help you become more financially literate and better equipped to make future financial decisions. This might include topics like creating a budget, using credit wisely, and understanding your rights as a consumer.
- Financial coaching to help you implement the changes you need to make in order to improve your financial situation. This could involve goal setting, developing a plan of action, and holding you accountable along the way.
- Debt management assistance to help you get out of debt and improve your financial health overall. This might include negotiating with creditors on your behalf, helping you set up a debt repayment plan, and providing support and encouragement throughout the process.
Importance of Getting Professional Help from a Debt Counsellor
For many people, the thought of getting professional help with their finances is a daunting one. However, enlisting the services of a debt counsellor can be an extremely helpful way to get your finances back on track. Here are a few reasons why you should consider getting professional help from a debt counsellor:
- Get an Objective Opinion
When you’re deep in debt, it can be hard to see the light at the end of the tunnel. A debt counsellor can offer you an objective opinion and help you develop a plan to get out of debt.
- Develop a Debt Repayment Plan
Debt counsellors can work with you to create a customized debt repayment plan that fits your unique financial situation. This plan can help you get out of debt faster and improve your financial future.
- Get Help Negotiating with Creditors
If you’re struggling to make ends meet, a debt counsellors can help you negotiate with creditors to lower interest rates, monthly payments, and fees. This can give you some much-needed relief and help you stay afloat financially.