The Role of a Debt Counselor in Debt Management Programs

Approaching a debt counselor for debt consultation is often considered  as an effective way of understanding and solving your debt related quarry or concerns. But it’s not the only thing a debt advisor can do. 

In a debt management process, the role of a debt advisor is very big and important. If you are not convinced, ask someone who has gone through a debt management programme. 

So they are really important in debt management. But, what exactly is the role of the debt counselor within the debt management process?

Well, let’s find out!! 

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What is Debt Counseling?

So, Before we can really address the role of a  debt counselor  , we need to know what debt counseling actually is .

In simple words, debt counseling is undertaken when you are fully drowned in debt, to the extent that  you no longer feel you can control it anymore. 

And in such a situation, just like any problem in life, you seek the help of an experienced person who then actually advises, or more specifically, “counsels” you on how to solve these  problems. 

And as it is concerned with debt here, the experienced person is a professional debt advisor who can help you with solving your debt problems. For that, they take a look at your debts and income and after a detailed analysis and study,  provide you with advice on the best way to consolidate your debts, or manage your debts so that you can pay off your credits systematically and efficiently. 

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Debt counselor in financial planning. 

So, is a debt counselor also a financial planner? 

Yes, and no.

Let me explain it further. In most cases the debt counselor is more like your agent;  contacting your creditors on your behalf to negotiate and arrange for acceptable ways  to make repayment of your outstanding debts. Thus he acts as your agent. 

After that, while he still acts as your agent, you will be making  payments to your debt advisor or counselor and he makes payments to your creditors according to the debt plan proposed, which your debt counselor, and your creditors have made.

A debt counselor as a collection agent

Again, yes; and no. 

It would probably be more accurate to say that your debt counselor acts as your fairy Godmother over your finances . He makes sure your creditors are happy with the repayments, and also makes sure your finances are being kept healthy and balanced enough to make such repayments.

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Counseling Fees and Costs

The answer to this question varies widely. It changes from person to person, organization to organization. In certain cases some debt management organizations will let you seek counseling free of charge. On the other hand, some debt counselors will charge you a percentage of your debt as a fee for their assistance, or else they will take a commission from your monthly payments to them. 

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Should you use a Debt Counselor?

Is debt counseling advisable then? Almost certainly – yes. Because most of the people will be new and inexperienced about these complexities of debt and debt management. And they will really need advice from someone experienced. 

However, that is a long way from saying that all debt counselors know what they’re doing – especially with so many of them being freely available on the Internet.

Would you seek the help of a debt counselor? 

Yes; if I was inclined to believe that I could solve my debt management problems effectively using some services I would certainly seek the assistance of a debt counselor. And I would choose wethinksolution too. Because I know why they are  one of the best debt management company in Dubai. 

In essence, it really takes a lot of courage to discuss your current debt management problems with your existing creditors, and it may turn out embarrassing, disasters or, even worse. So why try and fail? Just appoint someone who knows their job and knows their work. I know wethinksolution is one of them, being the best debt consolidation agency in Dubai. Or choose anyone you think are best in business. Who ever it is, make sure he solves your problem. All the best!! 

Wethinksolution is the best debt management company in Dubai. We offer the best debt management services and debt consolidation in Dubai. From effective debt advice to helping you with our responsible short term debt relief loans, we are the best debt management company in Dubai, and we are the answer for everyone in need. 

For more details, visit www.wethinksolution.com