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Credit counseling

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The truth is, most people with serious money problems do not intend to be in debt, they just end up that way. Sometimes it’s the result of medical expenses or unemployment. Sometimes it’s poor money management. In every case, the way to fix your money problems is not just to eliminate what you owe, but to also address the issues that put you in debt in the first place.

If your application for a loan was denied as a result of late payments, poor or no credit history, or default in loan or credit card payments, we may be able to help.  

No Credit History

If you have no credit history, we can help you set up a secured credit card to build up your credit history. Once you've demonstrated a pattern of responsible use of credit and payments, you will be able to establish good credit history.  

Poor Credit History

If you have poor credit history, we can connect you to Credit Counseling Service that will show you how to practice better money management and help you repair your credit.  

Importance of Good Credit 

Today's economy runs on credit. If you want to get a loan to buy a car, house or even to get a student loan to pay for college, you must have good credit.

Your credit information can be a factor in whether or not you can rent a nice apartment, how much you pay for insurance or whether or not you can get a job.  

Bad credit can suggest you're a risky bet, and will make it difficult for you to get a credit card with a low interest rate and costs you more to borrow money for any purpose.  

It pays to have good credit.  Tips on how to improve your FICO scores

Credit Counseling Partner

As a service to our members who need help with financial management or credit counseling, Merrimack Valley Credit Union has partnered with Greenpath Financial Wellness, a non-profit, financial wellness organization that has been empowering people to lead financially healthy lives since 1961. Greenpath offers assistance with: 

  • Debt counseling tailored to your unique situation
  • Managing credit score
  • Eliminating credit card debt
  • Bankruptcy counseling and education for debtors filing for bankruptcy
  • Reducing or repaying student loan debt
  • Preparing for homeownership, avoiding foreclosure, and counseling for reverse mortgage
  • Financial education tools and resources.

GreenPath’s financial experts are professional, compassionate and committed to your success. Call 877-337-3399 or go to www.greenpathref.com for assistance.  The call is free.   

 

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