There are credit counseling agencies that rescue people from the deepest financial holes. There are also credit counseling agencies that just shovel in more dirt. How do you tell them apart?
by Joel Walsh
Signs of a Reliable Credit Counseling Agency
__Better Business Bureau Membership
The service’s website should have a BBB logo and a link to their record on the Better Business Bureau website. Click through the link to check that there are no unresolved complaints against them. Many people only think about the Better Business Bureau after they’ve been cheated, but by then there’s not much you can do. Working with a credit counseling agency that is a member of the Better Business Bureau means that you can go to them to help mediate any dispute you might have with the service provider.
__Accreditation
Reputable credit counseling services will be accredited by an independent nonprofit, just as many schools are. One such accreditation body is the National Institute for Financial Counseling Education.
__Fees
A good credit counseling agency will charge a small, reasonable monthly fee, usually around $30. Some also...