Financial Counseling
Budget Counseling
Budget Counseling is offered to those who simply want to find out where they stand financially. A personalized spending plan is developed, your credit report is reviewed, any necessary financial issues are resolved, and recommendations are made.
Budget Counseling areas include:
- Developing long and short term goals;
- A review of your current financial standing;
- Plans to implement modifications in your current strategy to enable you to reach those goals;
- Professional assistance every step of the way.
Money Management
- Money Management is a short-term program (3 to 6 months) for those who:
- Have enough money to pay their financial obligations but do not seem to be establishing or meeting financial goals.
- Can meet their financial obligations but seem to be getting further behind.
In addition to the financial counseling you receive, you will be able to work with the financial counselor one-on-one to strengthen your financial decision making skills. -
Debt Management
- Debt Management is a long term program (1 to 5 years) for members who are in serious financial debt, where the monthly obligations equal or exceed the monthly income. Through the Debt Management Program:
- Financial priorities and lifestyles are adjusted;
- Payments to creditors are often reworked and lowered in a fair and equitable manner enabling you to meet all of your financial obligations.
Debt Management is the preferred alternative to bankruptcy. It can work. Don't wait until it is too late to seek help. Call the Financial Counseling Department directly at (757) 523-5380 or contact us at _FinancialCounseling@ABNB.org for a confidential appointment. -
Financial Warning Signs
- The following warning signs indicate you may need financial counseling:
- Paying bills late
- Paying only the minimum amount due each month
- Borrowing money to pay your monthly obligations
- Difficulty deciding which monthly obligations to pay
- Using a credit card to buy groceries and other essentials
- Reduced income or loss of income
- Thinking your finances are out of control
- Thoughts of filing bankruptcy
