People take their money very seriously. Once they realize that they are in a debt problem, they will do just about anything to get out of debt. If they realize they cant do it on their own, people often want to seek the advice of a credit counselor, but it is hard to know what to look for in a good credit counselor. Here are 4 signs of a good credit counselor that should help you in your decision
Free or Cheap
Good credit counselors are not going to charge you huge fees for their services. Most of the better credit counselors are from non profit organizations and they are normally free. If you find that you are being charged monthly for their services or that there are hidden fees in the check you write to pay off your debt each month, find a new credit counselor.
More than just a check
Many credit counseling and debt consolidation companies just take your money and pay your debts, end of question. A good credit counselor does just that; they counsel. They help you devise a plan that tells you how and where to spend your money; they essentially put you on a budget. If you need more counseling, a good credit counselor will give it to you.
Advise you to close your cards
This is a big one. Many credit companies help people pay off their debts, but dont advise them to close their credit cards or other forms of credit. This is important; if you want to stay out of debt; those cards need to be a closed. A good credit counselor will make sure you close them and set you up on a budget, so you dont need new credit cards.
Timelines
A good credit counselor will give you a timeline to pay off your debts. Every month you should receive a statement saying how much you paid, where it went and how much more you owe. If you are not getting this and you are just paying blind amounts of money, demand a statement. A good credit counselor will give keep you up to date on your progress.
Visit Debt Sanity to view our Recommended Debt Consolidators online. Also, visit Debt Sanity for more information on how to find the best Debt Counseling Service.
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Follow-up comment rss or Leave a Trackback[...] Professional Finance Article Site: On this site, you can find all the related finance articles. You … wrote an interesting post today onHere’s a quick excerpt4 Signs of a Good Credit Counselor Posted in August 1st, 2008 Category:Credit Counseling People take their money very seriously. On one occasion they recognize that they are in a debt problem, they will do immediately as regards something to find out of debt. But they recognize they cant do it on their own, members often feel like to seek the advice of a credit counselor, excluding it is […] [...]