Welcome, visitor! [ Login

Post an Ad

The Financial Recovery Process

Financial recovery December 3, 2023

The Financial Recovery Process

When discussing the financial recovery process, we will break the process down into four basics steps:

  1. Evaluate Your Current Financial Situation
  2. Develop a Financial Recovery Plan
  3. Implement Your Plan
  4. Evaluate and Adjust Your Plan

 

As we work through the module, we will examine these steps in more detail and discuss what actions you should take for each step. There are a few things to keep in mind as we discuss the financial recovery process:

  • The financial recovery process is a slow and steady one. It can take several years to fully recover financially and repair, or rebuild, your credit.
  • You may need to ask for help along the way. This allows you to accomplish your financial recovery goals faster. For instance, a reputable financial counselor may be able to negotiate lower interest rates than you can, or you may be able to pay off your debt quicker if you seek assistance through local programs (e.g., rent, mortgage, food, and utility assistance programs).
  • You should expect to experience an occasional setback during the financial recovery process. When setbacks occur, you may need to re-evaluate and adjust your plan. However, try not to let setbacks discourage you or take you off course from your plan. By being prepared for setbacks, you will be able to adjust and recover quicker.
  • Remember that you are not alone. Many people are embarrassed to share their financial situation with others. However, you may find that it helps to talk with and learn from others who are, or have been, in a similar situation.

 

No Tags

1099 total views, 2 today

  

  • Debt Collectors -Recovery Services - PA & VA

    by on February 3, 2024 - 0 Comments

    Entity Address Telephone Monarch Recovery Management, Inc. 10965 Decatur Road, Philadelphia, PA, 19154 (215) 281-7500 Monarch Recovery Management, Inc. 9350 Ashton Road, Suite 101, Philadelphia, PA, 19114 (215) 281-7500 Central Credit Services, Inc. Five Neshaminy Interplex, Suite 117, Trevose, PA, 19053 (215) 333-2272 Tate & Kirlin Associates, Inc. 2810 Southampton Road, Philadelphia, PA, 19154 (215) […]

  • Credit Counseling Agencies :EASTERN DISTRICT OF NORTH CAROLINA

    by on January 11, 2024 - 0 Comments

    Alliance Credit Counseling, Inc. 13777 Ballantyne Corporate Place, Ste.100 Charlotte, NC  28277-3433 Phone:  888-594-9596 Fax: 704-943-0313 Email:  kevin@knowdebt.org Website:  www.acc.consumerbkcenter.com, www.crisishelp.org, www.knowdebt.org Debt Management/Credit Counseling All Names Used: Alliance Credit Counseling, Inc., AAAlliance Credit Counseling, Inc., AAA Alliance Credit Counseling, Inc.  Addresses: 15720 John J. Delaney Dr., Ste.100, Charlotte, N.C. 28277, 7621 Little Avenue, #100, […]

  • How to calculate Monthly Income and Expenses - Case study

    by on January 4, 2024 - 0 Comments

    Monthly Income and Expenses   Once you know your monthly expenses, you can use a Monthly Income and Expense Worksheet (similar to the one on page 8 of your Participant Guide), a money management software program, or an online budgeting worksheet to determine: How much money you have coming in (income) How much is going […]

  • 5 Tips for Getting the Most From Your Credit Card

    by on February 16, 2024 - 0 Comments

    Pay on time. Paying your credit card account on time helps you avoid late fees as well as penalty interest rates applied to your account, and helps you maintain a good credit record. A good credit record leads to a higher credit score, which helps you qualify for lower interest rates. Know the date your […]

  • Credit Counseling Courses and Financial Management Courses : Puerto Rico (PR) USA

    by on January 16, 2024 - 0 Comments

    Financial Management Instructional Courses /Debtor Education Agencies Name,  Website , Courses Offered & Languages Supported  Debtor Education Agencies   address Forbes & Newhard Credit Solutions, Inc.         Website – forbescs.us:      Financial Management Instructional Courses (Debtor Education) Delivery Method – Telephone :   Language (other than English) in which the service method is provided, either through a translator, written […]