Credit Counseling
CCU's Credit Counseling Program can help you ...
Our Credit Counseling Program is a FREE confidential service available to members who want to make a commitment to bettering their financial situation but need some direction and a place to start. We can help you create realistic budgets and save money by restructuring how you are paying your bills.
Credit Counseling can:
- Map out your path to financial freedom
- Rescue you from financial quicksand
- Develop a strategic route for you to follow before problems arise
Why is credit so important?
Credit is an important tool that remains with you throughout your life. Every time a payment is made to a lender, it is reported to a credit bureau agency. When you apply for a loan, the lender reviews your credit report before making a decision on the loan.
"Good Credit"
If you have "good credit," you can purchase a new car, go on vacation, and experience the excitement of buying a home. But don't get carried away. Having too much credit (excess debt on credit cards) can be just as damaging as bad credit. We can help you find just the right balance!
"Bad Credit"
If you acquire a "bad credit" rating, it will remain on your records for years. It may put you in a higher interest rate category, and could even prevent you from getting a job.
Bankruptcy and its effects
Declaring bankruptcy damages your credit rating and can affect your ability to borrow for up to 10 years! Keep in mind that if you file for bankruptcy, not all debts will disappear and some of your belongings may be repossessed or sold to pay them off.
Test Your Financial Fitness...
- Are you putting money into a savings account without dipping into the account?
- Does your checkbook balance each month?
- Do you have at least 3 months' living expenses in an account in case of job loss or illness?
- Do you have control of your credit card debt?
- Do you just make minimum payments on your credit cards?
- Do you find yourself borrowing from family members to meet your obligations?
- Do you sometimes bounce checks or find yourself postdating checks?
- Do you neglect paying a debt in order to pay another?
- Do you receive phone calls from bill collectors?
- Do you use credit cards to pay basic living expenses?
Results:
If you answered "yes" to questions 1, 2, 3, and 4 - Congratulations! You have your finances
in order.
If you answered "yes" to questions 5, 6, 7, 8, 9, or 10 - You could benefit from our FREE Credit Counseling service.
If you would like to speak with a Credit Counselor, please contact us to schedule your private consultation. Please complete the following forms and send them to the Credit Union prior to your appointment.
Financial Fitness Analysis
Credit Counseling Acknowledgment
