Question:

How to choose a reliable consumer credit counseling and debt consolidation company?

Answer:

Though there are really some very helpful consumer credit counseling and debt consolidation companies that can pull you out of your debt, there are also companies that will only put your finances at risk. Of course, everyone will want to be able to tell those apart.

Consumer Credit Counseling and Debt Consolidation Companies Characteristics

Promises to rid you of your debt with a magic wand signify you are dealing with fraud. You can only be offered help to repay your loans by restructuring, by setting a clear timetable and concrete actions towards repaying your debt.

A reliable consumer credit counseling and debt consolidation company will have accreditation by an independent body and will charge usually not more than $50 upfront and monthly payments for their services.

A nonprofit consumer credit counseling and debt consolidation agency is not necessarily a reliable one. It only signifies the way they handle their own taxes, not that they have a non profit mission, or are state funded. Also, name registrations including "national", "union", and etcetera inspiring words do not guarantee you will get sound and competent assistance with your debt.

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