Credit Counseling And Money Management Assistance

If you are going to be late on a payment, contact your creditors (the people you owe) and explain your situation. They may be willing to accept a modified payment plan. The following nonprofit organizations may be able to help you better manage your finances.

Credit Counseling

Provides assistance for debt problems and can contact creditors on your behalf to arrange payment plans. Helps analyze your spending habits and develop a budget.

Consumer Credit Counseling Service of Northeastern Ohio – 1-800-355-2227
Consumer Protection Association – 216-881-3434

Savings/Investment/Financial Education

Cleveland Saves – (216) 781-8090
Provides financial education to help individuals save and invest money to obtain a financial goal such as home ownership, school tuition, retirement, or debt reduction. Participants must agree to save or apply to their debt a minimum amount of money each month.

Weco Fund – (216) 458-0250
Provides financial education, covering topics such as financial goal setting, record keeping, developing, implementing and monitoring a financial plan, protecting and growing assets, dealing with a poor credit rating, and homebuyer education. Offers a savings program (individual development account or IDA) with matching funds.

Consumer Protection Association – (216) 881-3434
In addition to providing help with debt management, offers a series of classes about banking procedures and saving. The program covers low cost checking options, how to choose an appropriate type of account, avoid high fees, keep the account in balance and how the account can assist in establishing credit. Upon completing the classes, people are able to open an account with a participating banking institution.