How does financial counselling help an over-leveraged customer


Financial counselling is an indispensable provision for a credit over-leveraged consumer who is struggling with debt. Here are some of the ways that financial counselling can help:


A financial counsellor works with the customer to create a realistic budget that takes into account their income, expenses, and debt obligations. By identifying opportune areas where they can cut back on expenses and creating a plan to pay down debt while the customer starts to regain control of their finances.

Credit Counselling:

Help the customer understand their credit rating and score, how it's calculated, and how it impacts their ability to obtain credit. They can also provide guidance on how to improve their credit score over time.

Debt Management:

A financial counsellor provides guidance on debt management strategies, such as debt consolidation or negotiating with creditors to lower interest rates, increase tenure of repayment, hardship-based waiver etc. They can also help the customer prioritize which debts to pay off first, based on interest rates and other factors. Financial

Education & Remediation:

A counsellor can provide education on financial topics, such as saving money, investing, and planning for a debt free life. This can help the customer develop good financial habits and avoid future debt problems. Overall, financial counselling can provide the tools and resources that an over-leveraged customer needs to regain control of their finances and work towards a more stable financial future.

At FREED, we are dedicated to our customers and have a compassionate team that embodies & exemplifies - Passion, Empathy and Service.

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