Everyone struggles with large amounts of consumer debt from time to time, but the trick is knowing how to handle it correctly. While it is highly preferable that you try to deal with each of your creditors directly, there are numerous worthwhile consumer credit counseling agencies waiting for an opportunity to help you out of such a financial crisis. The trick is separating the good from the bad, and finding the one that is best suited to meet your specific needs. Fortunately, there are several things that may be done to ensure that you find a reputable firm.
The first thing to check for is accreditation by any of the following: National Foundation for Credit Counseling (NFCC), Council on Accreditation of Services for Families and Children, Inc. (COA), or the Association of Independent Consumer Credit Counseling Agencies (AICCCA). Each one has certain standards that must be met, and the first two require all of their members to be nonprofit organizations. Being ISO certified is also highly recommended,but is not considered to be as strict of a requirement as accreditation by one of the aforementioned bodies.
The agency should also be a member in good standing of the Better Business Bureau. Any negative information here should translate to an immediate no on your part, but a clean record should not be an automatic yes. Accept this as a minimum qualification, but nothing more.
Most large creditors are checking out these credit counseling agencies for themselves so ask them which agency they would recommend, especially if you are in serious credit card debt. They may very well be able to help because not every consumer credit counseling agency deals with every bank or creditor. Find ones that are able to meet your specific needs before agreeing to any kin of financial agreement.
Do comparison shopping the same for consumer credit counseling agencies as you would any other business transaction that you are considering pursuing. Assume for a minute that two or more counselors give you the same basic advice. At least then you will have a general confirmation that you appear to be heading in the right direction. If what they all tell you is totally different, then take the time to decide for yourself which one makes the most sense based on your specific situation.
Whatever happens, do not commit to anything on the first visit or telephone call. Go home, think it over, and make a sound decision the next day after you have gotten a good night's rest. Do not go with a credit counselor just because you liked them the most. Go with the plan that you believe best overall suits your needs.
Before committing to any type of financial agreement, gather together as much information as possible about the agencies whose services you are considering using. Demand excellent customer service every time. Ask for references, and verify each one. Compile a list of questions that you want answered ahead of time, and do not use that agency if they fail to answer each one to your satisfaction.
In other words, approach consumer credit counseling agencies the same way you would any other business. Find the one that is best able to meet your specific needs at the most affordable rates. Expect high standards and quality service, and go somewhere else if that is not exactly what you receive.
