Credit Counseling vs. Bankruptcy: Which is Right for You?
Managing your finances is certainly hard work, and for many of us, there comes a time when we need expert guidance. To reduce debt, you may consider credit counseling or filing for bankruptcy.
How do you know which route offers the best path for your financial situation?
Let’s review the advantages and disadvantages of each option as well as how to determine the right choice for you.
What is Credit Counseling?
Credit counselors work with you to improve your financial knowledge and money management. A credit counselor will review and analyze your finances to create a plan to reduce debt. You’ll be asked to disclose information about your income, expenses, and debt.