Welcome to Bankruptcy America’s Credit Counseling pages, your second step in exploring alternatives to bankruptcy! Here, you can:

  • Use our calculator to check whether you likely qualify for a Debt Management Plan under credit counseling.
  • Read more about credit counseling and find a credit counseling agency.
  • Read the postings on our credit counseling blog, to find expert answers to the concerns of other people like you.
 

What is Credit Counseling?

Credit counseling is a professional service from a credit counseling agency, which will provide financial management advice and education tailored to your personal situation. This may help you find a way to repay your debts.

A credit counselor can also arrange and manage a Debt Management Plan (DMP) with your creditors, in which you will make a single payment each month and the agency will make payments to your creditors. In a DMP, your creditors may accept less than you owe them, in return for greater certainty of payment, and your payments are completed within five years.

To start this step, use our credit counseling calculator.

If the calculator indicates that you may qualify for a Debt Management Plan, explore this option more, using our credit counseling pages and credit counseling blog.

If the calculator indicates that you will not qualify for a Debt Management Plan, you can go to step 3, to explore your bankruptcy options. However, bankruptcy is your last resort, and you may still benefit from credit counseling first.

At any time, you also have the option to submit your question to an expert on personal financial problems in your region, and receive a reply in confidence.