Credit counseling companies come in all shapes and sizes. Whether you are looking at working with a local credit counseling organization or a national credit counseling organization there are some very important factors to calculate before choosing the right credit counseling option for you. Here is a list of questions for you to ask a credit counseling company before determining whether or not you should participate with their organization.
Educational Services-
One of the most important aspects of a credit counseling organization is what types of money management services do they provide? Ask the credit counseling company if they have an education program in place. Ask the credit counseling organization if they offer this service free to any individual that is interested in getting assistance with their finances. It is very important that the credit counseling organization that you choose to work with offers this service at no cost. It is also very important to make sure that the credit counseling organization doesn't require your participation in their credit counseling services or otherwise known as a "Debt Management Plan" in order to receive their educational services at no cost.
Fees-
Credit counseling fees vary from one agency to another. Make sure to ask the credit counseling organization for a breakdown of their fees. Some credit counseling organization require large up front deposits or payments to enroll you on their plan. Credit counseling organizations are regulated by many states as far as what they can charge as a "start up" fee. Some credit counseling organizations require that the first payment that you send to your creditors actually goes to them. This is an unfair practice that some credit counseling organizations have abused in the past. For example, if your monthly payment is $500 to your creditors through the credit counseling organization they would keep the first $500 as their "Start Up" fee. This is unfair because the next consumer of the same credit counseling organization might only have a 100$ monthly fee. Therefore that person receives the same benefit as you from the credit counseling organization for $400 less than what you paid to start the plan. Ask the credit counseling organization if they follow the state regulated fee structure for your area. Credit counseling organizations should adhere to all state laws. It's best to ask this right away.
Customer Service-
Credit counseling is all about you and your financial situation. When it's your dollars at stake make sure to ask the credit counseling organization about what type of customer service they provide. Credit counseling organizations should have someone available for you to talk to during all business hours of the day. Be leery of a credit counseling organization that requires you to leave a message in order to speak to customer service. This can be a sign that the credit counseling organization is shorthanded and having difficulty keeping up with their clients needs.
Rick Munster is the Media Planner for Debt Reduction Services, http://www.debtreductionservices.com. He resides and works in Boise, ID.
|
|
|
|
|
|
|
|
|
|
|


If you have decided that a debt consolidation loan is... Read More
Credit that cannot be managed or is not being repaid... Read More
First, make a list of your creditors (NOTE: you should... Read More
Feeling like you're on the brink of financial disaster? You're... Read More
Debt consolidation can be confusing, especially if you have never... Read More
Debt consolidation programs are devised to get you out of... Read More
Debt consolidation is a popular topic these days. The average... Read More
It is quiet easy to get into financial difficulty having... Read More
One of the easiest "things" that can happen in life... Read More
Debt consolidation may be the answer for anyone drowning in... Read More
You're not alone. Many people face a financial crisis some... Read More
Individual Voluntary Arrangement, IVA is an alternative to bankruptcy -... Read More
Debt consolidation loans can be the answer to a number... Read More
As long as consumerism flourishes most of us will be... Read More
Debt consolidation is often a last resort for people who... Read More
Private Student Loans ? dispelling the mythsIf savings, grants, scholarships,... Read More
If you find yourself having to make too many payments... Read More
If you are looking for a company that will help... Read More
Many different types of financial aid are available to you... Read More
Are you the victim of a high interest rate auto... Read More
With consumer debt on the rise, many people have found... Read More
Credit counseling is a valuable service for consumers who have... Read More
Credit counseling is a useful service for anyone with problem... Read More
If you're thinking about using a debt consolidation or debt... Read More
When you are living paycheck to paycheck and it seems... Read More
Deciding to file for bankruptcy is a decision that should... Read More
Are you feeling overburdened with debt? Are you paying out... Read More
Credit counseling companies come in all shapes and sizes. Whether... Read More
Eliminating your debt is a daunting task. What can you... Read More
Many of us find ourselves overwhelmed with bills, bills, bills.... Read More
Does this Sound like You? There are 100 shopping Days... Read More
If you're like thousands of other people who find themselves... Read More
The Federal student loan program has benefited thousands of college... Read More


If you've ever been in a situation where you needed... Read More
Debt consolidation companies have dotted the debt solution landscape as... Read More
There are many benefits in choosing a Debt Consolidation Loan,... Read More
The automobile has long been recognized as the classic American... Read More
Have you ever seen a commercial or an ad promising... Read More
The average American household has nearly $10,000 in credit card... Read More
Borrowing money against your credit cards has always been among... Read More
Debt consolidation may be the answer for anyone drowning in... Read More
Debt consolidation is frequently becoming a very familiar term used... Read More
If your debt is becoming difficult to get on top... Read More
Debt consolidation loan services act as a third party intermediary... Read More
Many of us find ourselves overwhelmed with bills, bills, bills.... Read More
If you believe in the good in people then you... Read More
When you are living paycheck to paycheck and it seems... Read More
Will you agree with me if I tell you that,... Read More
You are trying hard to eliminate your loans but keep... Read More
Studies show that Americans are now saving less than ever... Read More
Someone great once said that 'if it isn't the sheriff,... Read More
The recently passed Bankruptcy Abuse and Consumer Protection Act was... Read More
One of the easiest "things" that can happen in life... Read More
Has anyone noticed how many loan companies now fill up... Read More
Individual Voluntary Arrangement, IVA is an alternative to bankruptcy -... Read More
Debt consolidation solutions, has found that as good as it... Read More
Should I consolidate my college loans or not?1. Still in... Read More
Consolidating credit card debt is never easy. Too often people... Read More
Are you feeling overburdened with debt? Are you paying out... Read More
If you're like most people, you have plenty of credit... Read More
Whether you want to pursue debt consolidation in order to... Read More
Are you the victim of a high interest rate auto... Read More
One of the most common social diseases remains dormant for... Read More
A Consolidation Loan allows you to combine your federal student... Read More
First, make a list of your creditors (NOTE: you should... Read More
Learning about debt consolidation can be quite a confusing venture... Read More
Debt Consolidation |