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What is Credit Counseling
December 11, 2019

What is credit counseling and how does it help with debt relief

Credit counseling is a commonly-used program in the United States to help consumers break the cycle of living paycheck-to-paycheck, and ultimately avoiding bankruptcy. Credit counseling services can educate consumers on things like managing money, basic financial knowledge, budgeting, and more. Counselors are there to help people understand payment plans and the processes involved in many debt relief programs.

Financial Education

Credit counselors are also known as financial counselors and are individuals who are certified to help educate consumers on debt. They are able to help provide basic tools to help people who are drowning in debt, whether with past-due payments, maxed-out credit cards, mountains of medical debt, and more. Credit counselors can help you understand the basics of debt consolidation, debt settlement, or even bankruptcy.

Feeling confused about where to turn? That’s where a credit counselor can help you manage your debt relief and make sound decisions.

At DebtQuest, we believe that education is where we start and end. Educated consumers make wiser decisions about their current debt situation, and also learn to make better decisions for future financial health.

Confidential Help

Certified credit counselors are here to provide confidential advice for your own unique circumstance. We know there are a ton of questions surrounding debt and that’s why we offer credit counseling to our clients. We want to make sure you understand and feel confident in your plan to get out of debt.

Personalized Approach

Every situation is completely unique. Your amount of debt, kind of debt, earning potential, savings potential, and goals are all different from everyone else in the world. That means that your debt management approach needs to be personalized to YOU. While bankruptcy might be the perfect choice for one person, you may be better off with debt settlement. Ultimately, the best thing you can do is to talk with a credit counselor to find out what they recommend for your debt. The choice is yours, but they will give confidential advice based on their extensive experience.

Not sure if credit counseling is right for you? If you have more debt than you know what to do and you’re not sure where to turn, talking with a credit counselor can help you make smart decisions about your debt relief.

In other words, the solution all depends on the circumstances of your situation and the resources you have available to eliminate debt.

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How Much Can You Save?

How much debt do you owe?

$1

$100k+

What is your desired
monthly program deposit?

$1

$5000

Debt Quest Debt Settlement

$500

Your monthly
program deposit

$5,750 Savings

Your Savings

39 months to pay off your
current debt listed above.

Your monthly program deposit:
$500

Your Savings:
$5,750 Savings

39 months to pay off your
current debt listed above.


Debt Consolidation or Credit Counseling

$500

Your monthly
payment

You pay $14,478 more

No Savings

79 months* to pay off your
current debt listed above.

*Assumed average interest of 15%

Your monthly Payment:
$955

No Savings:
You pay $14,478 more .

36 months to pay off your
current debt listed above.

*Assumed average interest of 15%


Paying Minimum Monthly Payments

$500

Your monthly
payment

You'll Pay $29,199 More than you owe currently

No Savings

9 years* to pay off your current debt listed above.

*Assumed average interest of 20%

Your monthly Payment:
$500

No Savings:
You'll Pay $29,199 More than you owe currently.

32 years* to pay off your current debt listed above.

*Assumed average interest of 20%

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