| With the debt levels at all time high, credit counseling | | | | credit history, it generally indicates a red flag. Credit |
| agencies are reaping on the boom. However, as a | | | | history cannot be erased. Accurate information about |
| consumer, it is in your best interest to choose a | | | | your credit accounts will stay on record for 7 years. |
| credit counseling agency wisely. In generally | | | | Credit counselling fees: |
| accreditation is helpful and an accreditation with either | | | | A reputed credit counseling firm will offer budget |
| the National Foundation for Credit Counseling or the | | | | services for free and charge you for DMP (debt |
| Association of Independent Consumer Credit | | | | management plan) or other premium services you |
| Counseling Agencies is recommended. | | | | seek. As a consumer look out for a reputed credit |
| When you have narrowed the list of credit counseling | | | | counseling agency that will charge you between $15 - |
| agencies you want to work with, it is a good idea to | | | | $30. $50 can be considered at the high end of the |
| call up your local Better Business Bureau and see if | | | | spectrum when you are totally comfortable with the |
| any complaints are filed with them. If a credit | | | | services they offer. |
| counseling agency has many complaints filed against | | | | Try to gather further information on credit |
| them, you are better advised to move on with other | | | | counselors. Ask what kind of training is given to |
| companies. | | | | credit counselors. Ideally look for companies that |
| It is also important to understand what is being | | | | offer training as well as accreditation by an outside |
| offered by a credit counseling agency. A reputed | | | | source. Additionally ask how the credit counselors are |
| credit counseling agency will offer you a range of | | | | paid? If they are paid a commission, they might |
| services including a certified personal counselor, | | | | pressure you into accepting a DMP. |
| personal financial budget calculation worksheet, DMP | | | | I hope all the above listed information will be helpful in |
| (debt management plan) details, work with creditors | | | | selecting the right credit counseling agency for you. |
| to lower interest and a lot of free resources and | | | | Any research before selecting a credit counseling |
| credit counseling information. | | | | agency will be time well spent. |
| If a credit counseling agency offers erasing your | | | | |