About Debt Counseling Services

2007-03-08 10:33:40

( Financial )



If you are still living paycheck to paycheck, you are unable to work with a budget and you are worried about debt collectors, it may be time to consider the services of a credit counselor. There are a lot of credit counseling organizations out there. But just because an organization says it is non-profit does not guarantee that the debt counseling services they offer are free or even affordable. Or that their organization is even legitimate. So before you settle on a particular debt counseling service, make sure you are aware of the red flags.

Most credit counselors offer their services via phone, internet or a local office. Find an organization that offers in-person counseling service. This kind of counseling service is readily available in many universities, housing authorities and credit unions. You may also ask your financial institutions, friends and family for more information and even referrals.

Good and legitimate debt counseling organizations advise you how to manage your money and debts. They help you develop a budget and they even give tips on how to make your budget work for you. Reputable counseling organizations often provide free educational materials and workshops. The credit counselors in these organizations are usually certified and trained in budgeting and consumer debt management. Each credit counselor will discuss your entire financial position and even give you a glimpse of your financial future. These credit counselors will provide a personalized plan to help you on your money troubles.

To find the best debt counseling service for you, pay a visit to the local offices of these organizations and check the services they offer, their fees and their licenses to offer services. You can also ask about their privacy policy regarding your personal information. Ask about the credentials of the counselors providing credit counseling service. Find out how their employees or counselors are compensated. If these employees or counselors are paid more if they get you to sign up or make a contribution that is a red flag.

If you finally decide to work with a credit counseling organization, be sure to check it out first with your local consumer rights agency. They will be able to tell you if there are complaints lodged against this organization. This way, you will be able to find a credit counseling organization that will be able to help you and hopefully get you out of your financial problems.


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