Credit counseling agency resources
Published 9:00 pm Saturday, March 27, 2004
Some tips on finding a good credit counseling agency:
Ask friends and relatives for recommendations, or see if your company’s human resources department can refer you to a local agency.
Check with your local Better Business Bureau or state consumer protection agency to determine if complaints have been filed.
Find out if the counseling agency is affiliated with a major association, such as the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling. Both have agency locators on their sites at www.aiccca.org and www.nfcc.org.
Don’t settle for a counselor who doesn’t take the time to discuss your spending habits, arrange a budget and agree to help you better handle your personal finances.
Get any agreement in writing, and read it before you sign it.
Beware of high upfront fees or required "voluntary contributions" or high monthly service fees that could add to your debt.
If you feel you’ve been the victim of credit improvement fraud, file a complaint with the Federal Trade Commission at www.ftc.gov or by calling 877-FTC-HELP, and with the BBB and state consumer agencies.
Sources: Federal Trade Commission, Consumer Federation of America
Associated Press
