Debt Consolidation Credit Counseling

Do Your Homework in the Debt Consolidation Credit Counseling Process

Things have become so out of hand in the debt consolidation credit counseling industry that the IRS is closing in on many of the businesses. There are several reasons why, and they all have to do with the fact that too many of them are ripping off consumers. Some of their shady practices are:

• Claiming not-for-profit status when they aren't;
• Charging hidden fees and costs;
• Failing to inform clients that they could do their own negotiations;
• Not sending payments to creditors in a timely manner; and
• Failing to offer free credit reports when we're all entitled to them yearly

In other words, not all, but many of these companies are just making the lives of individuals with debt problems even worse than they already are.

There is something really sad and disgusting about preying on desperate people. Those seeking debt consolidation credit counseling are doing it because they owe so much money they don't know where to turn. They may not even be thinking rationally, and ready to believe anything they hear that sounds like it will help them. In a way it's ironic that the government is investigating these agencies, since it is requiring anyone contemplating bankruptcy to seek debt counseling. It was meant to be a helpful solution, but in too many cases it's proven otherwise.

If you feel the need for debt consolidation credit counseling, do some research on the agencies. You can check with the Better Business Bureau in your area. Sometimes there have been complaints against a company and once it's settled they will classify it as resolved. If you run into this situation, do some further checking as that doesn't necessarily mean the claim was settled in a satisfactory way for the consumer. You can also contact the "Consumer Protection" division of your state to inquire about debt consolidation credit counseling. Private lenders often offer free services to help people learn how to get out of debt and stay that way. Or, simply complete the form on this page and we'll introduce you to ethical debt consolidation credit counseling specialists who can develop a solution based on your exact credit and debt situation.

If you're in debt to the point of being frightened, try to remain rational and find truly helpful advice. Most creditors are happy to work with you and even will offer you easier terms so that you can pay them. Don't make the mistake of using an unscrupulous debt consolidation credit counseling service. The ultimate goal is to ease the burden of your debt and help you begin building a healthy financial future.

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