How To Find A Consumer Credit Counciling Service

2007-03-08 10:33:40

( Financial )



Many are finding that a consumer credit counciling service can be of great help in solving their debt woes. Nevertheless, not all consumer credit counciling services deliver as promised. With so many of them these days, it gets harder to spot the good ones and separate them from those that are solely after their own bottom lines. Here is a guide on how to find the right one.

Research

Contact your state Attorney General and ask about the agency you are concerned with. Verify if they have the licenses required and check their history of disciplinary action. Search the web for customer feedback and independent reviews about the agency. Ask the credit counciling service if they have third party accreditation and whether they are a member of a national organization. A reputable agency would be transparent enough in sharing information about their practices and track record.

Examine Their Procedures

Observe the way the agency operates. Ask them about their policies on fees and contributions. Find out how they intend to handle your funds. Ensure that all of your contributions will reach your creditors at the soonest possible time. Obtain an assurance from them that your funds are insured or bonded against mismanagement. If they are less than transparent in explaining their procedures or are not convincing enough when they assure you that your money is safe, then you are better off looking for other agencies.


Check What Services Are Offered

A good consumer credit counciling service has a lot more to offer than mere consumer debt counseling. A full service agency will offer you advice in budget forming as well as mortgage counseling, a debt consolidation service, and financial management training. Verify that their counselors are certified and skilled in budgeting and finance. Ensure that your counseling sessions are long enough for you to fully grasp what is being discussed. Opt for an agency that doesn’t just have a wide array of services but reliable customer support as well.

Pass Up On Big Promises


Do not get enticed by promises of quick fixes and instant credit repair. There are certain limits to what consumer credit counciling agencies can do; and they certainly can’t solve your debt problems within a day or two. Remember that there are no quick fix solutions to your debt problems. It takes time, effort and coordination with your credit counciling agency to achieve results in your debt repayment process.


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