What is a credit counseling agency?

A credit counseling agency is a type of agency that provides financial advice and assistance to individuals and families who are dealing with excessive debt or struggling with their financial situation. Credit counseling agencies help individuals and families with budgeting, debt payment plans, and consumer education. In Kansas, credit counseling services are offered by various non-profit organizations that specialize in consumer debt defense law. Credit counseling agencies provide counseling and education to help individuals understand their financial situation, identify potential problems, develop strategies to solve financial issues, and learn how to make sound financial decisions. Credit counselors can provide assistance with budgeting and recommend steps for reducing debt, such as debt consolidation, credit counseling, and debt settlement. Credit counseling agencies also help individuals resolve disputes with creditors. Credit counselors will work with creditors to negotiate reduced payments, interest rates, and fees. Credit counselors may be able to arrange a lower interest rate, or the debt may be written off. Credit counseling agencies provide services that can help individuals and families get back on track financially. The services provided by credit counseling agencies are free or low cost, and they provide a service that is beneficial to both the individual and the creditor. Credit counseling agencies in Kansas are regulated by the Kansas Department of Financial Institutions and help individuals and families receive the help they need to achieve financial stability.

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