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How to Get Free Credit Counseling in Indiana

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In a Nutshell

With these five steps, you can get the debt relief you need by getting free credit counseling in Indiana. 

Written by the Upsolve Team
Updated September 8, 2020

Whether you just want to review your financial budget or are feeling overwhelmed by poor credit, Indiana credit counseling can help! Credit counseling in Indiana is a counseling session(s) that provides assistance and education to folks who have financial problems or those who cannot repay their debt.

Free or nonprofit Indiana credit counseling agencies can:

  • help you prepare a budget

  • advise you on money management and debt management

  • provide free educational workshops and materials

If your financial issues stem from excess debt or your inability to pay off your debts, then an Indiana credit counseling agency can recommend that you enroll in a DMP (debt management plan). With a debt management plan, your Indiana credit counselor might be able to get lower interest rates as well as better terms from the organizations you owe. Indiana credit counselors will guide you on several matters, such as consumer credit, student loans, budgeting, and debt and money management. 

Your Indiana credit counseling organization may be able to help you:

  • Decrease your interest rates

  • Merge your monthly or quarterly repayment

  • Reduce debt collection calls

Note that the vast majority of Indiana credit counseling organizations hope to have most of your debts cleared in about 36 to 60 months. During your credit counseling session, Indiana credit counselors thoroughly review your financial situation by analyzing your credit reports, household budget, and consumer debt to improve your financial situation. Indiana credit counselors usually work at nonprofit organizations. 

Good credit counselors are certified and offer money management and debt management specialists in order to help you. Speaking with an Indiana credit counseling agency is only the beginning.  Next, you will have to figure out whether the consumer counseling services are really what you need, or if there are other ways to accomplish more. However, credit counseling in Indiana can coach you into staying on target with all your financial goals.  Keep in mind that you can benefit from credit counseling in Indiana, even if you are not behind on your debts.

How to Get Free Credit Counseling in Indiana?

With these five steps, you can get the debt relief you need by getting free credit counseling in Indiana. 

Find Indiana Nonprofit Credit Counseling Agencies

First, never sign up with an Indiana credit counseling organization that claims their services are a consumer bankruptcy alternative. These credit counseling agencies also say that their services don’t impact your credit. Also, they might tell you to stop paying your creditors, which is a bad idea for several reasons. Reliable Indiana credit counseling agencies, on the other hand, are often nonprofit organizations that give you valuable insight into how you can manage your debts and money. The services of nonprofit counseling agencies are by and large much more affordable and accessible. You should consider it a red flag if an Indiana credit counseling agency doesn’t send free information about itself before requesting details about your financial situation. Most nonprofit counseling agencies in Indiana are members of either the Financial Counseling Association of America or the National Foundation for Credit Counseling

Information to Research before Talking to an Indiana Credit Counseling Agency

Look for some searchable signs that will help you find a competent and reputable Indiana credit counselor. If you run into an Indiana credit counseling organization that is reluctant to answer your questions or cannot offer you any valuable information until you provide them with your bank account information, then that is a warning signal that the agency might not be reputable. You are better off saying thanks, but no thanks to their counseling services. You should consider the following to vet the agency:

Certification and accreditation: Ensuring the credit counseling agency in Indiana you are working with is certified and accredited is an excellent way to verify that it is a reputable agency.

Access: When choosing an Indiana credit counseling organization, ask yourself how you would rather receive their services: in person, over the phone, or online. 

If you want to learn more about credit counseling in Indiana, you should: 

Questions to Ask the Indiana Credit Counselor Before Signing Up

If you choose to work with an Indiana credit counseling agency, be sure to consider these vital questions.

Is the Indiana credit counseling firm willing to send you free educational materials and information?  Most Indiana credit counseling services offer you free education and information detailing their services. Also, the Consumer Financial Protection Bureau suggests that you check with your State Attorney General’s office before choosing a company.

How long will your counseling program take to complete? This is another important question that you should ask before signing up.

Are you licensed to provide your services in Indiana? Many states in the US require that an agency register or get a license before providing credit counseling and similar services. Never hire a counseling organization in Indiana that hasn’t fulfilled all the requirements for the state.

What to Expect During Credit Counseling?

If you choose to use credit counseling in Indiana, read all terms of the contract agreement before you sign. In most cases, the contract will disclose the fee or contribution amounts, an estimated payoff schedule, and a description of services, etc.

You should have the following information handy for your credit counseling session: 

  • Demographic information

  • Basic contact information

  • Information about all your assets and income

  • You will also provide a detailed list of all your expenses, such as rent, groceries and utility expenses

  • Current balances on all your credit cards

During your first meeting, Indiana credit counselors will review your pay stubs in order to establish income, and expenses such as rent, and cable bills. The Indiana credit counselor will discuss your financial situation with you and help develop a personalized plan to tackle your debt and get your finances in shape. Your initial credit counseling session can last one hour with a few follow-up sessions, if necessary. 

What Happens After Credit Counseling in Indiana?

A certified credit counselor in Indiana often takes several approaches to reduce debt.

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Indiana Debt Consolidation

If you are tired of repaying multiple creditors without really making a significant dent in your loan balances, then you can consider debt consolidation in Indiana. With the assistance of an Indiana credit counselor, you can easily simplify your situation. 

Indiana Debt Management Plan

Under an Indiana debt management plan (DMP), your credit counselor will draw up a DMP for you. This will usually involve a combination of a personalized budgeting plan and negotiated interest-rate reductions so that you can live within your means. When your Indiana credit counselor reaches an agreement with your creditors, you will start to make monthly deposits with your Indiana credit counseling organization, and they will use this money for paying your unsecured debts.

Indiana Bankruptcy

By filing bankruptcy in Indiana, you can get debt relief and receive a fresh start. If you’re not making enough to pay your living expenses and have money left over to pay at least a portion of your debts, this may be a better option for you. It is better than the other 2 options as bankruptcy counseling is one of the quickest and most effective ways to eliminate your loans and credit card debt. 

Written By:

The Upsolve Team

Upsolve is fortunate to have a remarkable team of bankruptcy attorneys, as well as finance and consumer rights professionals, as contributing writers to help us keep our content up to date, informative, and helpful to everyone.

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