All About Debts

Debt Help by Joel Walsh

Signs of a Reliable Credit Counseling Agency

__Better Business Bureau Membership

Credit card debt and consumer credit counseling can help lower credit card debt, student loans, and unsecured debt. Get free consolidation and counseling quotes Credit Advice and Resources Credit information and tips to help you find the best deals on credit cards, credit reports, manage your debt, and control your finances. .income tax attorney

Counseling Debt The service's website should have a BBB logo and a link to their record on
the Better Business Bureau website. Click through the link to check that there
are no unresolved complaints against them. Many people only think about the
Better Business Bureau after they've been cheated, but by then there's not much
you can do. Working with a credit counseling agency that is a member of the
Better Business Bureau means that you can go to them to help mediate any dispute
you might have with the service provider.

__Accreditation

From June 1, indebted. They will be providing you with budgeting advice and will also mediate with your credit providers to reach an amicable solution. You may approach a debt counselor directly for advice or you may be referred to a debt counselor by either a creditor or a magistrate’s court. When you apply for debt counseling, you cannot take on new loans or credit until you have paid all your debts and have received a clearance certificate from your debt counselor. You will also be listed on the credit bureau records as a consumer under debt counseling. Currently, the National Credit Act provides for a R50 application fee for debt counseling, but the department of trade and industry is considering changes to debt counseling fees.

Consolidation Consumer Debt Reputable credit counseling services will be accredited by an independent
nonprofit, just as many schools are. One such accreditation body is the National
Institute for Financial Counseling Education.

__Fees

With the change in the new bankruptcy law effective October 2005, it is now necessary for consumers to get credit counseling within the six months before filing bankruptcy. The credit counseling service must be from a government approved credit and debt counseling organization. //www.usdoj. cc_approved.htm

Debt Settlement A good credit counseling agency will charge a small, reasonable monthly fee,
usually around $30. Some also charge a fee upfront, though this fee should be
reasonable (around $50 tops). It may be possible to get a hardship waiver of
these fees if you truly do not have the $30-50.

__Clear Application

There are many companies out there offering "Debt Consolidation" which is also known as Bill Consolidation, Bill Management, Debt Consolidation Loan, Debt Management Plan, Credit Counseling, Credit management and Debt Elimination. Many make many claims that seem almost too good to be true. Consolidate your debts into one low monthly payment.

Debt Free The application must clearly say what the fees to be paid are, what the
services to be provided are, and in what timeframe all of this will be
provided.

__Reasonable Promises

Our debt settlement program will get you debt free far sooner than credit counseling programs and not leave you with the devastating blemish of a bankruptcy on your record. Academy Credit is looking out for your best interest, not your creditors. We can get you out of debt with peace of mind. credit information cont

Consolidation Debt Service Run far, far away from any organization that proposes to "wipe out" your debt
for you, rather than simply helping you to repay the debt. Short of your
creditors just deciding to forget about the debt (unlikely), there is no way to
erase debt-even bankruptcy leaves a huge mark on your credit report for ten
years.

Company Consolidation Debt True, your car may not go missing from your driveway if you stop paying
unsecured debt (i.e., debt that is not "secured" with collateral, like most
credit cards, unlike most auto loans). But you are still legally obligated to
pay the debt, and the possibility of being taken to court will loom over you.
You will likely be unable to get even "bad credit" financing if you still have
debts in collections-good luck buying a car or house.

Not Necessarily Signs of a Reliable Agency

XX Nonprofit Status

Consolidation Debt Online Nonprofit status is essentially a tax designation, not a government
endorsement of a group's mission. There are plenty of near-fraudulent credit
counseling agencies that are registered nonprofits.

XX Respectable Name

Consolidation Debt Free Any group can put words like "National," "Alliance," "Assistance," and other
trust-inspiring words in their name. But a name is just a name. Make sure to
check any organization against the list above to make sure they're reliable.
Also try searching for the group's name on a search engine. Don't just look for
a lack of negative reports-that might just mean the group changed names
recently. Instead, look for positive reviews from real people, and preferably
mention on reputable third-party websites, such as news sites.

Debt Problem Ready to find a credit counseling agency? You're in the right place: the web
is full of credit counseling agencies. Just use the checklist above, and you'll
have no trouble separating the saints from the scams.

Credit Debt Joel Walsh has written on credit
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