Advice You Can Bank On: Free Credit Counseling for Wesley Residents and Staff

Wesley Housing residents and staff alike now have access to free, confidential, one-on-one credit counseling sessions thanks to Renter Advantage™, a new program to stabilize renters struggling with the financial impact of the coronavirus pandemic.

A collaboration between the National Foundation for Credit Counseling (NFCC) and the Housing Partnership Network (HPN), the program unites certified credit counselors with nonprofit rental property owners. Its goal is to bring together these networks to assist renters in stabilizing their housing and building long-term financial health.

Wesley’s Resident Services Coordinators will connect residents to credit counselors to help them navigate their financial challenges with a trained professional. A simple online form, available in multiple languages, with a few standard questions is all that is needed to first enroll. Counselors will then contact residents in their preferred language to provide solutions based on the resident’s specific situation, provide a space to talk openly about their financial situation, and offer unbiased financial and credit advice.

Counselors are trained to help clients understand their situation and options, and to work with them to develop budgets, set goals, and create action plans for the future. For those who qualify, Debt Management Plans are available to help reduce and restructure debt. In addition to addressing near-term challenges, counselors will work with clients to improve their financial health and plan for long-term goals, like homeownership.

Understanding that discussing finances can be uncomfortable for some residents, Wesley Housing will offer monetary incentives to households who enroll, refer friends, and sustain engagement with the program.

 

Renter Advantage™ counseling sessions are made possible by funding from the Wells Fargo Foundation.