Summary:
An how-to article for consumers about choosing a credit counselor or credit counseling organization. Gives tips on what questions to ask: fee listings, what services the credit counselor may provide, and what to look for in legitimate credit counselors.

Details or Sample:
Is a Credit Counselor Right for You?
by AJ Kerr

Almost everyone experiences the pain of a financial crunch at some point. But how do you know when you need the help of a credit counselor? What does a credit counselor do?

If you find yourself behind in your credit payments, and you don´t see how you can budget your way out of the problem, you might want to consider credit counseling.

Most credit counseling companies are non-profit organizations. They exist to help consumers who are struggling with debt. One of the first things a credit counselor will do is go over all your credit accounts and help you establish a budget you and your family can work with.

Some credit counselors will also work with your credit companies to lower your interest and minimum payments until you can afford to pay more. This is usually called a debt management plan, and a credit counselor will usually charge a fee for this service.

Before you decide to work with a credit counseling organization, it´s important to ask questions. Yes, credit counselors are supposed to help you, but sometimes a credit counseling company can do more harm than good. It all depends on the individual company, so ask a lot of questions before you decide.

When you contact a credit counselor, first ask for a list of fees. Some companies will charge a one-time set up fee and others will charge a monthly membership fee or a percentage of your total debt. Before you sign on with anyone, make sure you understand all the fees up front. Make sure the organization is willing to provide their list of fees in writing before you sign anything.

If the credit counseling organization does not have a pre-printed list of fees, or cannot provide you with a written list, keep looking! Most, if not all, legitimate credit counselors will provide you with this information as soon as you ask.

Next, ask them

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Written by: AJ Kerr
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