How to Select a Consumer Credit Counseling Agency

Learn how credit counseling services work and see how much you can save by submitting a form. Get free debt counseling to determine the right program for you.

Chicago, IL (prHWY.com) January 9, 2012 - Receiving overdue bills in the mail from debt collectors and living paycheck to paycheck is no fun. When individual debt becomes too excessive, it is time to seek out the assistance of a consumer credit counseling service.
There are many consumer credit counseling services around, but not all are equal. An individual must truly gaze into the background of a consumer credit service before putting any trust into it. Here are a few things to remember when selecting a consumer credit agency:

* Check with the BBB (Better Business Bureau) to see if the consumer credit agency is reliable.
* Check to see what the consumer credit agency has to offer.
* Stay away from extravagant fees.
* Make sure the consumer credit agency is licensed.
* Search for a non-profit consumer credit agency.

Reliability of the Credit Agency

The Better Business Bureau gives out ratings and accreditation on businesses. When selecting a credit agency, you must make sure to watch out for companies that have an extensive history of bad complaints. If a company has been in business for a short time and receives numerous complaints, avoid the company.

What Does the Credit Company Have to Offer?

It would be best to select a credit agency that has much to offer in services. A credit agency should offer savings, credit courses, free educational materials, budget advice and a debt management plan. If any of these things are not present, avoid this consumer credit agency.

Stay Away From Extravagant Fees

Even though credit agencies charge a fee, do not pay fees which seem unreasonable. Any credit agency that has additional fees added to your counseling fee should be avoided. If you are unable to pay additional fees, you should seek having it waived. If a credit agency doesn't waive additional fees that is when you look somewhere else. Make sure you ask for free information in writing

Make Sure the Credit Agency is Licensed

Different jurisdictions have different rules regarding licenses. If you live in an area that requires a consumer credit agency to be licensed, make sure it has one.

Search for a Non-Profit Consumer Credit Agency

Always look for a non-profit agency that has an extensive history. By doing this, you can lessen the charge of credit agency counseling. Conversely, it does not mean that the credit agency will not over charge with fees. Some non-profit credit agencies are better than others.

See related topic "Using a Credit Counseling Service to Eradicate Debt"

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Tag Words: law, finance, debt, legal, business

Categories: Finance

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