Credit Counseling/Money Management

  Getting a realistic picture of your financial situation is crucial.  Local non-profit budget and credit counseling agencies often provide services that can help you:

  • Get the necessary information to evaluate your situation.
  • List your available assets and current and expected debt obligations.
  • Make a realistic budget.
  • Communicate honestly with family about the situation.
  • Deal pro-actively with creditors to avoid eviction, foreclosure, repossession, harassing phone calls and to protect your credit record.
  • Make a new plan to deal realistically with your new financial reality.
  • Prioritize your actions.

You may also want to meet with someone from your employer's Human Resources office and/or union before your job ends to get information about potential pension, severance payments or other benefits to which you may be entitled.

Here are a few agencies which can help:

  • Clearpoint Financial Solutions
    Provides free credit and debt counseling.  Also provides debt management services for a monthly fee. 
    5050 Poplar Avenue # 1101
    Memphis  38157

    Call 901-276-2000 or 877-422-9045 Mon - Fri 8:00 am - 5:00 pm.
  • Consumer Credit Counseling Agency
    Provides free budget and debt counseling services.  Also provides debt management services on sliding fee scale.

    2400 Poplar Avenue # 445
    Memphis  38112
    Call 901-323-4909 OR 800-225-2227 Mon - Fri 8:00 am - 5:00 pm

    2855 Stage Village Cove # 5
    Bartlett  38134
    Call 901-383-2193 or 800-225-2227 Mon - Fri 8:00 am - 5:00 pm
  • US Federal Trade Commission -  Free Annual Credit Reports
    Provides instructions on how to apply for free annual credit reports from all of the three major credit reporting agencies

You may be able to restructure or reduce your student debt from school loans through two federal loan programs.

  • Income-Based Repayment (IBR) or Public Service Loan Forgiveness (PSLF)  programs

  Call LINC/2-1-1 for additional referrals for free or low-cost credit counseling and money management assistance.