Credit Counseling: Do You Need It?
Is debt overwhelming you? Do have credit up to your eyeballs? Debt collectors knocking on your door? Trouble paying the bills, let alone trying to save money for your retirement? The truth is , you are far from alone, and you might like to consider credit counseling.
Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But be aware that just because an organization says it is ‘non profit’ does not guarantee that its services are free or affordable or that its services are legitimate. In fact, some credit counseling organizations charge high fees, some of which may be hidden, or urge consumers to make ‘voluntary’ contributions that cause them to fall deeper into debt.
Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person counseling. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals.