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Before you choose a credit counselor, you should ask…

Credit counseling has saved millions of people from having to file for bankruptcy. It is amazing what this kind of counseling can do for you and your debt problems but you do need to bear in mind that not all credit counseling services are created equal. In fact there are many that are not credit counseling services at all, they are simply a front for con men. These cons will use this so called service to take advantage of you and your problems. They will not be able tot help you in any way and in some cases they have managed to get people not only deeper in debt but I trouble with the law.

To make sure that you are choosing the right credit counselor for the job you need to interview each candidate. Just like you would an employee. That might sound strange but this is an important service that they are providing and any reputable credit counseling service will welcome such straightforwardness and caution. You need to know that you will learn the proper tools to help you get out of debt and stay that way and to do this there are some questions that need to be asked.

For example:

Has this credit counseling service worked with your particular creditors?
You want to go with a service that has. If they already have an established relationship with your creditors they will be able to work with them to get you a better, more flexible payment schedule. They may even be able to get your interest rates down I order to take some of the pressure off.

Have they been able to get interest rates down before?
The amount of interest that you pay on your debts can be overwhelming. If you owe a lot of money you could be paying hundreds of dollars or more in interest along each month. You need to have a credit counselor who will be able to do something about this huge problem.

Who will send the payments to the creditors?
Some credit counseling services will have you send them a um sum payment each month that they will break up and send to each of your creditors. This sounds great and it is convenient but if they are sending all of their payments out at one time, and they often do this, some of your bills may not get paid on time. This is no way to build good credit and help your situation. You need to find out exactly how this credit counseling service deals with these kinds of issues before you sign with them.