Debt Counseling for Couples

Posted by: Michael S. | Dec 16,2007


Often terms like debt settlement, debt consolidation, and debt counseling do not come into the picture into a debt problem is very far along.  I would recommend to new couples who are soon to be married or who have been recently married that they meet with a debt counselor to work out financial issues.  See that I wrote “issues” rather than “problems.”  Everyone has financial issues to deal with, even if they’ve got a great income.  

In America, people are fairly anti-therapy. No one really likes to admit that they go to a psychiatrist – it implies that you’ve got something seriously wrong.  Really, if you can’t benefit from some time talking about problems you’re having at work and home, then you’re some kind of superman.  The same goes for debt counseling.  You don’t necessarily have to be in deep financial straits to meet with a counselor.  Everyone could benefit from some informed financial advice.  

For newlyweds, there’s an additional issue: some newlyweds may feel that debt counseling is similar to marriage counseling.  By and large, a couple will only go into marriage counseling when problems are very dire. Try and shed this preconception when it comes to debt counseling.  A new couple will have particular concerns regarding debt: how or when to merge debts together, how to budget, what debts to pay off first, and other such issues.  

For this reason, I’d recommend debt counseling for newlyweds and other couples so that they can deal with outstanding financial issues.  This is especially true if one or both spouses are in significant debt, but everyone could use some budget help.  

There is some misconception that debt counseling involves a counselor contacting creditors to renegotiate the terms of debt.  While debt counseling does perform this action, there are those debt counselors who are more like debt organizers: they help couples and individuals get their financial house in order.  It may cost a fee but this can be offset by how much you save by successfully organizing your finances.  

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