A recipient of a bachelor of business administration from The Wharton School of the University of Pennsylvania, Abdul B. Seedat has worked with multiple auto dealerships over the past three decades. The finance director at Steven Ford in Jersey City, Abdul B. Seedat is also experienced in areas such as accounting and credit counseling.
Credit counseling is a process that guides consumers on money management, consumer credit, debt management, and budgeting. Often, debtors seek consumer counseling to prevent undesired situations like bankruptcy during the course of struggling with debt repayment. While it is not mandatory, some counseling services extend their assistance to negotiating with creditors on behalf of borrowers to minimize interest rates on loans.
Essentially, reputable credit counseling organizations employ trained and certified staff. These staff (counselors) know how to help debtors develop personalized plans for their credit issues. In every credit counseling process, the first appointment emphasizes the aggregate debt of the client, which is determined through a full debt assessment. Also, the current financial status of the client will be determined through their debts, assets, monthly income, and expenses, followed by helpful counseling on how to manage unanticipated expenses. The initial counseling session usually lasts one hour, and the counselor will schedule at least one follow-up session.