So, we’ve discussed what credit counseling agencies are and what they do. Now you need to decide what to look for when you’re trying to seek out one for yourself. This step is essential; this is where you’ll be considering whether or not a credit counseling agency is really something that you require and if they can meet or fulfill your actual needs.
Consider contacting a bankruptcy lawyer at the same time so you can discuss your situations and fell out all of your options. Bankruptcy is the last choice you want to make but if your debt is too far gone you’re better off filing bankruptcy than wasting time with a counseling service. A bankruptcy lawyer can help you determine whether or not your debt is severe enough to constitute bankruptcy and what your chances of succeeding are.
When Looking for a Good Credit Counseling Service
- First and foremost, I recommend seeking a service that is affiliated with the National Foundation for Credit Counseling. This will help you weed out a lot of phony companies that just want to waste your time. The more renowned and proven the company, the better.
- Go for a company that will offer you a free consultation before starting services and one that will give you realistic expectations. Avoid companies that advertise big promises and seem “too good to be true.”
As with hiring a lawyer, your first choice should be a credit counseling service that does not advertise on television. A good credit counseling company and debt management service requires very little advertisement because people are often referred directly to them. Do your research and make gimmicky advertising companies your last priority.