How to Get Free Credit Counseling in Wyoming

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Written by the Upsolve Team.  
Updated December 11, 2019

Summary

Because you should never pay for an initial credit counseling session, this article will show you the steps you can take to find free non-profit credit counseling in Wyoming. We will also explain some basic research you can do on the credit counseling agency you choose to work with, suggest some questions to ask at your first credit counseling session, and tell you what to expect at the session and what happens next if you decide to move forward.

If you are in the midst of being hounded by creditors or being targeted by debt collection companies, free non-profit credit counseling in Wyoming can put you on the path to becoming debt-free. Credit counseling through a non-profit credit counseling agency in Wyoming is a free one-on-one session between you and a trained, certified Wyoming credit counselor. The counseling is centered on helping you to better manage your money, create and stick to a monthly budget, reduce and pay off debt and reach your long term financial goals. There is no sales pitch and you are not required to sign up for anything at the end of the session. Instead, your Wyoming credit counselor will recommend the debt relief program best suited to your particular financial circumstances.

Even if you’re not behind on your bills, credit counseling may be right for you. For example, if you have to “juggle” your bills every month and have to use credit cards to pay for your day to day expenses like food or gas; then that is a sign that you are probably no longer able to pay your bills when they become due. Speaking with a non-profit Wyoming credit counselor today can put an end to this predicament before it gets worse.

A non-profit credit counselor in Wyoming can sit down with you and help you work out how much income you have coming in every month, what you need to live on every month and how much you can afford to pay on your remaining bills. Then, if you decide to accept their help, they recommend a debt management program tailored to your personal finances that will allow you to gradually get out debt.

How to Get Free Credit Counseling in Wyoming

Because you should never pay for an initial credit counseling session, this article will show you the steps you can take to find free non-profit credit counseling in Wyoming. We will also explain some basic research you can do on the credit counseling agency you choose to work with, suggest some questions to ask at your first credit counseling session, and tell you what to expect at the session and what happens next if you decide to move forward.


Find Wyoming Nonprofit Credit Counseling Agencies

Two important things you should look for when choosing a Wyoming credit counseling organization is a.) whether the credit counseling agency is a for-profit company or a non-profit agency; and b) if it is a non-profit credit counseling agency, whether it’s accredited.

You want to ensure you’re dealing with a Wyoming non-profit organization because reputable non-profit Wyoming credit counseling agencies don’t charge you for your initial debt counseling session. In addition, non-profit Wyoming credit counseling agencies are prohibited from “pitching” a debt management program to you whether or not it is right for you. And finally, a reputable non-profit Wyoming credit counseling agency will provide you with free educational materials you can take with you after the session. Whether you decide to take advantage of any of their debt relief services, or not.

Finally, you should also ensure the non-profit Wyoming credit counseling agency is accredited. Not all “non-profits” are accredited. An accredited non-profit credit counseling agency follows industry-standard credit counseling practices set by the national organization that accredited them. These standards include such things as emphasizing financial education over program enrollment, having trained and certified credit counselors, providing free, no-obligation initial credit counseling and adhering to full and fair disclosure of their services and fees.

Information to Research Before Talking to a Wyoming Credit Counseling Agency

The State of Wyoming has several resources you can use to verify the credit counseling organization you choose to use is reputable. The first of these is the Wyoming Secretary of State. The Wyoming Secretary of State maintains a database of every for-profit or non-profit company authorized to do business in the State of Wyoming. This database discloses the name of the organization, its registered agent, its business address, its operating status (valid or invalid) and whether or not it’s operating as a for-profit or non-profit organization. The Wyoming Attorney General has a Consumer Protection Division that accepts and investigates complaints filed against credit counseling agencies that do not deal honestly with the public.

Finally, you can determine if the non-profit, Wyoming credit counseling agency you choose is accredited by verifying their accreditation with the National Foundation for Credit Counseling or the Financial Counseling Association of America. You can also check the credit counseling agency’s rating with the national Better Business Bureau.

Whether you use one or all of these resources, if you find anything that makes you feel uncomfortable about dealing with the credit counseling agency, choose another one and do the same research on it until you find one you’re satisfied is trustworthy and reputable.

Questions to Ask the Wyoming Credit Counselor Before Signing up

No matter how bad your financial situation is or how far behind you are on your bills, you should not be railroaded into any debt relief program you are uncomfortable with starting. The best way to make sure this does not happen to you during your initial credit counseling session is by arming yourself with a list of important questions you would like answered before taking the next step. You can put whatever questions you want on your list, but in case you need help coming up with some. Here are some questions you could start with.

  •  Is there any cost for the initial session? This answer should always be no. So follow this up by asking the Wyoming credit counselor to explain the costs and monthly fees you will be responsible for if you choose to follow their recommendation.

  •  Ask for specific details on the counseling session itself? How long will it last? What should I bring with me? Where will it take place? How will the session be conducted? These questions are intended to lower your nervousness about attending the session and make you feel more comfortable about the meeting.

  •  How long will the session last? Most initial counseling sessions last 45 minutes to one hour. But if you feel that is too short or too long, ask your counselor is possible to shorten the session, or alternatively, whether can you get a longer session if you need it. The answer to either of these questions should always be yes.

What to Expect During Credit Counseling

What you can expect at your initial credit counseling session will vary depending on whether you choose to do the session in-person, over-the-telephone or online. If you do the session on-line or over-the-phone you can usually start it 24 hours a day. You will be walked through a series of questions and answers about your current financial situation. If you complete the session you will receive a recommendation for next steps. If you are unable to finish it, you can pick up where you left off later or you can submit a request to have a Wyoming credit counselor call you. If you want to do the session in-person, you will usually have to schedule an appointment, to make sure a certified credit counselor is available when you want to come in. However, by completing the session in person you will be able to meet your credit counselor face to face and begin to develop a personal relationship with them, you will also be able to conduct the counseling session at your own pace, ask questions as they arise and get a more thorough review of your financial situation by authorizing your credit counselor to pull your credit report and review your credit score with you. In addition, you will be able to leave with brochures, pamphlets or other educational material to provide you with more information on the money management and debt relief options you are considering.

In order to get the most out of your free initial credit counseling session, you should try and bring some helpful documents with you. If your debts consist mostly of credit card debt, then you should try and bring the most recent credit card statement for all of our credit card accounts. You should also bring any medical bills, student loans, car loans or payday loans you are paying on every month. Also, bring something showing how much you earn and how often you get paid. Finally, if you have one, bring a recent copy of your credit report. You can obtain a free copy of your annual credit report online before attending. But remember, you don’t need any of these documents to get free credit counseling in Wyoming. In a pinch, some simple notes with as much of this information as you can put together are sufficient to give your credit counselor a picture of your current financial situation. Ultimately, the initial credit counseling session is not about “documenting” your poor financial condition but rather about extending you a helping hand, here and now.

What Happens After Credit Counseling in Wyoming

Hopefully, the first thing that will happen after your initial Wyoming credit counseling session, is that you breathe a sigh of relief. Because you now realize help is available and, over time, you can get out of debt. What else happens after your initial Wyoming credit counseling depends on whether you choose to follow your Wyoming credit counselor’s recommendation. If you do, some of the options that might be available to you are highlighted below.

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Wyoming Debt consolidation

Perhaps the most common, and most widely accepted form of debt relief in the United States other than bankruptcy is debt consolidation. Debt consolidation involves combining all of your consumer credit and all of your payments on that debt into one debt with one monthly payment. There are several forms of debt consolidation and each method comes with certain risks. One way you can consolidate your debt is by taking out a new loan. This can be either an unsecured personal loan or a home equity line of credit. A new personal loan is a great option but usually requires good credit. There is also the risk of running up the debt you consolidated all over again. A home equity line of credit usually carries a lower interest rate than credit card debt but it is secured by the equity in your home and the lower rate may be “a variable rate”. Meaning it may go up unexpectedly during the life of the loan, drastically increasing your monthly payment.

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Wyoming Debt Management Plan

A Wyoming debt management plan is another form of debt consolidation that doesn’t involve taking out a new loan or using your home’s equity. A debt management plan combines all of the monthly payments you make on your unsecured debt into one low monthly payment. Non-profit credit counseling agencies in Wyoming are able to get debt management plans like this approved by obtaining your creditors’ consent to the plan in exchange for the credit counseling agency agreeing to accept payments and administer the plan. Most creditors also agree to lower the interest rate on the credit card debt, waive over-the-limit and late fees and suspend collection activity.

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Wyoming Bankruptcy

Non-profit credit counseling agencies offer their credit counseling services because most people do not want to file bankruptcy unless they have no other choice. Unfortunately, not everyone experiencing financial hardship can benefit from credit counseling and debt consolidation. If you have no income, are unable to work, or have very large amounts of unsecured debt, then a Wyoming bankruptcy may be your best option. Bankruptcy legally eliminates all of your debts that you can no longer afford to pay. In addition to debt counseling, most accredited credit counseling agencies can also provide you with free bankruptcy counseling.

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