There is no shortage of credit counseling companies to select from. Unfortunately, many businesses that enter the debt relief assistance industry do so for the wrong reasons. Some are inexperienced, some are scams and some simply care only about their bottom line. That is why it’s imperative you do your homework carefully before choosing a company to help resolve your debt.
To make selecting a company easier, the U.S. Department of Justice has compiled a list of approved credit counseling agencies in the United States. The list is easy to sort through and review, and it’s updated twice a month. Each update to the list takes into account a wide variety of information, including whether or not a company is in compliance with federal and state laws.
As part of your research, be sure to review the department’s list of approved debtor education programs and providers. Educating yourself in the world of personal finance is essential to breaking the debt cycle. You’ll want to make sure education is part of your debt relief assistance plan.
Another resource you’ll want to explore is the Better Business Bureau. You can enter the business’ information and see whether or not there are any active complaints regarding a business. This will help you determine whether a business is reliable and trustworthy.
Additionally, know the law. The Federal Trade Commission has put together easy-to-access information regarding the laws, which protect consumers from unfair and illegal business practices. From the Consumer Credit Protection Act to the Fair Debt Collection Practices Act, there’s considerable legislation in place to protect you from scams and deceptive collection practices. The more you know about these laws, the easier it will be to protect yourself as you bring your debts down to size.
As a final bit of advice, trust your gut instincts. If what the debt relief assistance agency says doesn’t feel right, or you’re not comfortable with what they’re proposing, walk away from the offer and speak with the another agency until you’re satisfied with the plan.
Superior Debt has been providing debt counseling to client’s since 1998. Our record and reputation are among the best in the country, and we invite you to contact us to learn more about our services and the ways we can assist you.
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