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Debt Consolidation
Financial Fitness: Choosing a Credit Counselor
Living paycheck to paycheck? Worried about debt collectors? Can’t
seem to develop a workable budget, let alone save money for retirement?
If this sounds familiar, you may want to consider the services of a
credit counselor. Many credit counseling organizations are nonprofit
and work with you to solve your financial problems. But beware — just
because an organization says it is “nonprofit” doesn’t guarantee that
its services are free or affordable, or that its services are
legitimate. In fact, some credit counseling organizations charge high
fees, some of which may be hidden, or urge consumers to make
“voluntary” contributions that cause them to fall deeper into debt.
Most credit counselors offer services through local offices, the
Internet, or on the telephone. If possible, find an organization that
offers in-person counseling. Many universities, military bases, credit
unions, housing authorities, and branches of the U.S. Cooperative
Extension Service operate nonprofit credit counseling programs. Your
financial institution, local consumer protection agency, and friends
and family also may be good sources of information and referrals.
Source: the Federal Trade Commission
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Date Added: 2009-04-20 Views : 377
