Credit counseling organizations can advise you on your money and debts, help you with a budget, develop debt management plans, and offer money management workshops. Working with a credit counselor can be a great way of getting free or low-cost financial advice from a trusted professional.

Consumer Credit Counseling Services (CCCS) are mostly non-profit organizations that offer free or low-cost counseling, education, and debt repayment services to individuals in danger of bankruptcy.

nonprofit credit counseling organizations Consolidated Credit is one of the nation's largest and oldest nonprofit credit counseling organizations. Our mission is to help people end financial crises through education and professional counseling.

Lenders use your credit score to determine whether they are willing to loan you money and, in many cases, what interest rate you will be charged. The higher your score, the less risky you appear as a borrower and the more likely you are to receive approval for new accounts and to receive a favorable interest rate.

If you're in debt and are struggling to keep up with your payments, you may benefit from enlisting the help of a credit counselor. Credit counseling agencies typically are nonprofit organizations that provide some free services, as well as debt management plans, to help people eliminate unsecured debt.

A credit counseling agency educates the consumer as its principal activity. It may also assist the consumer in consolidating debt and negotiate between debtors and creditors to lower interest rates and waive late and over-limit fees.

Consolidation adds together the assets, liabilities and results of the parent and all of its subsidiaries. The investment in each subsidiary is replaced by the actual assets and liabilities of that subsidiary.

Consolidated Credit oversees the program, acting as an advocate for you and your creditors. They negotiate to reduce or eliminate interest charges on your debts and stop future penalties. As a result, you can get out of debt faster, even though you may pay less each month.

Here are some of the major benefits of building credit.

• Better approval rates. If you have a good credit score, you're more likely to be approved for credit products, like a credit card or loan.
• Lower interest rates. The higher your credit score, the lower interest rates you'll qualify for.
• Better terms.
• Robust benefits.

Five things that make up your credit score

• Payment history – 35 percent of your FICO score.
• The amount you owe – 30 percent of your credit score.
• Length of your credit history – 15 percent of your credit score.
• Mix of credit in use – 10 percent of your credit score.
• New credit – 10 percent of your FICO score.

Counselling gives you time and space to work through your problems. Therapy helps you gain a different perspective on problems and issues. Therapy provides a safe, non-judgemental and respectful environment. Counselling can help you regain wellbeing and balance in your life.

The Credit Counselling and Debt Management Agency (CCDMA) enhances the avenues for consumers to seek redress and assistance in managing their finances.