Credit Counseling Reviews

Rahul Thadani Oct 16, 2018
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There are plenty of credit counseling services that you can find online, but not all of them are real. Credit counseling agencies can be extremely useful for you to battle mountains of debt, but only if you pick the right one.
Going through some credit counseling sessions can help you avoid bankruptcy, or reduce your debt burden considerably. A lot of financial transactions today take place in the form of credit, and often this leads to a situation where the debt burden on an individual goes beyond their control.
In a worst case scenario, the individual will have to declare bankruptcy, and this will ruin the credit report and the credit history of that individual permanently.
Credit counseling is a service provided by qualified professionals who try to provide the individual with some solutions to their debt problems. Since bankruptcy is something that will forever tarnish the credit history of the person, it is essential to come up with as many solutions as possible.

Consumer Credit Counseling

What these counselors basically do is provide you with plenty of detailed tips and information about budgeting and personal finance management. This information allows you to manage your debts in a more mature manner in the future. They also approach your creditors and try to find a feasible solution for both parties.
This is achieved by either eliminating late fees, increasing loan terms, or reducing interest rates. Needless to say, the efficiency of these negotiations depends primarily on the relationship that the counselor shares with the creditor, and also on the reputation of the counselor himself.
Some counseling agencies also give you the option of entering into a debt repayment plan with your creditors. Under this method you will have to pay a certain amount of money each month to the agency, and they will pay this to your creditor, and get you some advantages in the process.
After all, creditors also stand to lose the money owed to them by you, if you are declared bankrupt. So they will be open to all kinds of suggestions from these agencies.

Picking an Agency

For all these reasons, it is essential for you to choose the best counseling agency for yourself. There are many parties who provide this service, but you need to pick one that has a good reputation, and/or one that is known to you personally or through a personal contact.
You need to ensure that the agency is a part of the National Foundation for Credit Counseling (NFCC), or the Association of Independent Consumer Credit Counseling Agencies (AICCCA). There are many reviews that you may have read, but if an agency is not a part of either of these organizations, they are not going to be able to help you much.
Narrow down on a few shortlisted agencies, and check if there have been any complaints filed against them at your local consumer protection agency, the Better Business Bureau and your state's Attorney General's office. If you get all clear from these bodies, you have made a sound choice. Ask them questions before you decide on one, and make a good decision.
Picking a wrong debt management and credit counseling agency based on false or exaggerated reviews is a mistake many people end up doing, and you need to be aware of this. Check if the agency you have picked provides online service, is non-profit, and charges reasonable fees. Don't be alarmed if they ask you for fees, as they are giving a valuable service.
Some common credit counseling agencies you can choose  from are listed here. Do a detailed study of each of them before deciding  on any one.
  • Credit Solutions
  • CuraDebt
  • ACCC Consumer Credit
  • CareOne Providers
  • Delray Credit Counseling
  • Debt Consolidation Connection
  • Impact Debt Relief
  • Money Management International
  • Auriton Solutions
  • AAA Fair Credit Foundation
The reviews for these agencies are positive on the whole, and they will certainly be able to aid you and get out of your predicament. Choose wisely, and you will reap the rewards ultimately.