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Debt Management through Consumer Credit Counseling

Many companies specialize in debt management and consumer credit counseling. The trouble is finding one that will suit you and your needs well.

The first thing to avoid when looking for a company to handle your debt management is a scam. However, it is often difficult to find out whether an agency is legitimate or not. One sign to beware of is if the company seems to be offering you something that is too good to be true. For example, if they are claiming to erase your bad, but correct credit history or settle your debt in a very short amount of time they might be offering to do something illegal or simply take your money with no actual services rendered.

Another sign to look out for is if the credit counselor at the consumer debt management organization is overly pushy. Any company would desire you to sign up for their program, but they should be able to tell you what benefits you may or may not gain by doing so. They should also be willing to take the time to answer your questions and spell out other helpful tools to take care of your debt.

You will also want to check with the Better Business Bureau to insure that the company who is offering you credit counseling or a debt management plan is in good standing. Always stay away from a company which has had valid, unresolved claims against them.

Once you have watched out for these signs, you can be reasonably sure that you are working with a company that is reputable. You will also want to make sure that the consumer debt management plan that is being offered is beneficial for your situation. You will want to be able to save money with their plan compared to what you could have done on your own. You will also want a company that works with all your creditors.

If at anytime you feel uncomfortable with the individual or company that is handling your consumer credit counseling, find another organization. You will want to be assured you are making the right choice.

Ronnica Rothe graduated Magna Cum Laude from the University of Oklahoma. She is currently enrolled at Southeastern Seminary in Wake Forest, NC.

She is a regular contributor to educational information disseminated through Personal Financial Network. Related information can be found at