Debt counseling - Study guides, Class notes & Summaries

HUD Housing Counseling Exam 2023/2024 Back-end ratio The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...

Which of the following statements are true of HFMA's Patient Financial Communications Best Practices? - Answer- The best practices were developed specifically to help patients understand the cost of services, their individual insurance benefits, and their responsibility for balances after insurance, if any. The patient experience includes all of the following except: - Answer- Recognition that revenue cycle processes must be patient-centric and efficient. This is especially true in the areas...

NACCC CFC Test Prep 2024 Actual Questions and Verified Answers (2024 / 2025) A+ Grade 100% Guarantee Verified by Experts Five stages of counseling Answer 1. Rapport and relationship building 2. Assess and define the problem/gather info 3. Goal setting 4. Strategy implementation 5. Follow-up 2. Objective measures of financial health Answer Positive debt/income ratio Adequate insurance Steady and adequate salary Adequate savings for emergencies Adequate savings for retirement Good credit...

AFC Prep Exam Questions With 100% Correct Answers. What is the role of a financial counselor? - answerFocus on the clients goals active listening skills are paramount help clients gain new insights goal is to work yourself out of a job Definition of financial counseling - answer"The creative use of all resources to obtain economic well-being for individuals and families." What are the goals of financial counseling? - answerHelp clients resovle immediate problems help them change ingra...

FiCEP Exam Combined Questions With Revised Correct Answers | UPDATED | 1) Which of the following is the first step of the counseling process? a. Analyze data b. Develop a spending plan c. Collect member data d. Establish goals and objectives - ANSWER member data 2) It is best to divide a budget into which cycle? a. Daily b. Monthly c. Quarterly d. Annually - ANSWER b. Monthly c. Collect 3) Which of following provides a credit history incl...

FiCep Part 1 Questions and Answers Already Graded A What are the housing market conditions that can indicate a real estate "bubble"? Housing values are rising faster than consumer income What five sources influence most consumers' financial practices? Parents, Lenders, learned patterns, creditors, society/peers What is the best tactic for helping members who are in the "earn/spend/earn/spend" cycle? Each paycheck must be divided up for specific categories such as savings and debt What ar...

HUD Housing Counseling Exam Question and answers rated A+ 2024 Back-end ratio - correct answer The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and...

CCUFC TEST CH 2 QUESTIONS & ANSWERS 2024/2025 Financial counseling can help members in other ways that financially such as: - ANSWERShelp restore relationship, pay off debts, attain financial security, and make it possible to achieve long term goals _______ will need financial counseling at some point - ANSWERSeveryone ________ shifts within a community may also impact the number of members who need financial counseling - ANSWERSeconomic Many credit unions offering counseling servi...

2024/2025 FiCEP Exam - Questions with 100% Correct Answers Which cycle describes members who are just surviving and living paycheck to paycheck? a. Earn / spend / earn / spend b. Earn / spend / borrow / spend c. Earn / spend / save d. Earn / borrow / spend / save Financial counselors who don't use what they know about hemispheric thinking, may fall into the trap of: a. Assuming the member will succeed if they work with the counsellor b. Asking too many questions c. Telling the member what the...

Right Side of the Brain - Answer- This side of the brain processes creativity, patterns, spatial awareness, context Financial Planning - Answer- Helps members make the most of their incomes to accomplish long term goals, including saving and investing for retirement Debt Counseling - Answer- Helps members learn possible ways to structure their debt. Credit Counseling - Answer- Helps members manage spending in a way that rebuilds their credit and makes it possible to achieve financial go...