Element Credit Counseling Programs
- Analyze your current financial situation and goals
- Provide detailed review of your income, assets and expenses.
- Provide personalized solutions depending on your goals.
- Explain ways to improve your credit score
- Put together a plan to attain long-term financial stability and stay debt free
Element will first understand the situation you are in. we will formulate ways in which you can save more money, become debt free and start on the way towards financial freedom.
- Discuss mechanics and advantages of creating and maintaining a budget
- Discuss custom-designed payment plans
- Present advantages and difficulties of all options including BK, DMP’s, self-administered payment plans.
Counselors will discuss the advantages and disadvantages of each of these options with clients and will make recommendations for which options are best suited to meet the clients’ individual needs, goals and circumstances.
Counselors ask clients to provide detailed information about the type, amount and source of all significant items of income, assets, liabilities (including secured and unsecured debt), and expenses.
Counselors interview clients about their budget and finances, discussing topics including their employment, education, buying habits, significant expenditures, and any significant past or anticipated changes in their earnings, assets, expenses and liabilities, including the reason or cause for those changes.
- The type, amount and source of current and expected future income
- Their assets
- Their monthly and annual expenses
- Secured debt such as mortgages and car loans debt
- All kinds of unsecured debt, including student loans as well as credit cards
- Other liabilities such as child support, alimony, tax liabilities.
- Their employment
- Their education
- Buying habits
- Significant past or anticipated changes in earnings, assets, expenses, and liabilities, including the reason
- Health and other life issues that may affect their financial situations.
Based on this information, counselors develop and present to clients a number of options and strategies for addressing their debt problems, including creating and maintaining a budget, establishing debt management payment plans with creditors, negotiating directly with creditors on payment or interest rate relief, and filing for bankruptcy.
- Coach clients on negotiating directly w/ creditor in appropriate cases.
- Discuss mechanics and advantages of creating and maintaining a budget.
- Recommend changing buying habits or strategies for saving money.
- Discuss custom-designed payment plans.
- Present advantages and difficulties of all options including bankruptcy, DMPs, self-administered payment plans.
The counselors will discuss the advantages and disadvantages of each of these options with clients and will make recommendations for which options are best suited to meet the clients’ individual needs, goals and circumstances.
Counselors also provide referrals to other organizations for appropriate support services, such as employment, training, and psychological counseling.