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.
  www.clearpointfinancialsolutions.org
   
• 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
  www.helpingfamilies.org
   
• 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
  www.annualcreditreport.com/cra/index.jsp

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
  www.ibrinfo.org/

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