Choosing the Right Credit Counseling Service
How can you choose the right credit counseling service? This is a question that has become much more popular in the past few years, as the recession, unemployment, and the housing crisis have all made it necessary for thousands of average Americans to get out from under crushing debt. Unfortunately, there are plenty of scams masquerading as credit counseling agencies; these scammers prey upon the misfortune of others to rob them of money and even commit identity theft, in some cases. How can you choose the right credit report counseling service? Follow these tips:
1. Go for a non-profit.
Non-profit credit counseling services are your best bet for avoiding scams. These agencies earn their commissions from credit card companies as well as other independent companies and are not invested in skimming profit from you.
2. Make sure the agency is accredited.
Your agency should be accredited by the Council on Accreditation (CoA), or the International Standards Organization (ISO). Make sure this accreditation is current and has not expired.
3. Make sure the counselors are certified.
The counselors should be certified by an independent organization. Some counseling credit agencies have counselors accredited by the credit card companies, but this simply isn’t good enough. The counselors need to have an independent accreditation in order to advocate your case.
4. They should be well-established.
Look for a credit report counseling agency that has been in business more than ten years.
5. Look for HUD certification.
If you have more than credit card debt on your plate and need help keeping your home, look for services that are certified by the Housing and Urban Development Agency (HUD). These credit counseling services will be up-to-date on housing programs that can help you save your house while repairing your debt at the same time.
Source: jenngerl