Subject The article addresses methodological approaches, the international practice of credit counseling, and the Russian practice of interaction with borrowers. Objectives The objective of the study is to analyze foreign credit counseling practice focusing on debt servicing and rescheduling, and possibilities of its application in Russia. The paper aims to unveil specifics of credit counseling agencies operating in the United Kingdom, Sweden, USA, and to propose a model of credit counseling market organization in Russia focusing on deficiencies discovered in the foreign practice. Methods The basis of the study is scientific articles, industry reports of regulatory bodies on the condition of the credit counseling market, and my personal observations. Results The study shows drawbacks in the work of both a fee-paying and a free model of credit counseling. Conclusions The findings show that it is possible to use a credit counseling model in Russia only if the existing international models are adjusted to the Russian reality, taking into account the revealed downsides in the overseas practice.
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