Beware of credit-counseling fraud

[ Bookmark this page! ] [ get HTML Version ]





Beware of credit-counseling fraud
If you're one of the estimated 9 million debt-stressed Americans who seek help from credit-counseling agencies each year, you might be getting less than you sign up for--and may even find yourself in a deeper hole. Why? Because the booming credit-counseling industry, with an aggressive new class of shady agencies, is rife with "improper advice, deceptive practices, excessive fees and abuse of nonprofit status," according to "Credit Counseling in Crisis," a report by the National Consumer Law Center (nclc.org) and the Consumer Federation of America (consumerfed.org). "It is virtually impossible to distinguish the honest, caring agencies from the rip-off artists by just looking at a TV ad or making a quick phone call," says Travis Plunkett, CFA's legislative director and coauthor of the report.

But unless you're on the verge of bankruptcy, "You can take your own steps to get out of debt," says Elisabeth DeMarse, president and CEO of Bankrate.com, a leading Web site for personal-finance information. "The first step is to stop using your credit cards immediately, and then pay two or three times the minimum each month." If you cannot make payments and require debt management, DeMarse advises that you look for a nonprofit agency in your community that's affiliated with the National Foundation for Credit Counseling (nfcc.org). "And," she adds, "it's a good idea to go and visit the agency to make sure it actually exists."

Bookmark this page | Search this site | E-mail to a Friend






Top rated articles for credit counseling agency
1. 8 dirty tricks your credit card company can play
2. Choose Your Credit Counselor Carefully
3. Consumer credit counseling services: Should You Use Them?
4. How to Find Credit Counseling
5. Free credit report from credit reporting agencies

Editors picks: credit counseling agency
6. Consumer Credit Counseling and Your Credit Report
7. What is Credit Counselling?
8. Questions to Ask a Credit Counseling Service about Debt Relief
9. Financial Planning - Basics
10. How to build a perfect credit

Premium articles: credit counseling agency
11. Five Differences Between Debt Reduction and Credit Counseling
12. A credit counselor checklist Protect yourself from scam artists by being selective
13. The consumer's guide to credit counseling
14. How Do a Credit Counseling Services Work?
15. Credit Counseling: Could it Work for Me?

Related articles: credit counseling agency
16. Shady credit counseling services may do more harm than good
17. Finding a Good Credit Counseling Service
18. How a Credit Consolidator Can Reduce Your Debt
19. How to select the best credit counseling company?
20. Beacon score: 4 myths about your credit / beacon score

Recommended Reading : credit counseling agency
21. Credit counseling organizations can mislead you and bring IRS penalties
22. How to find the right family credit counseling service?
23. 10 ways to stop identity theft
24. Credit counseling and its effects - free article
25. Non profit credit counseling services information and resources

1. The advantages of consumer credit counseling
2. Finding a Good Credit Counseling Service
3. Trusting credit counselors - Ask Your Advocate - Federal Trade Commission
4. What is Credit Counselling?
5. How to build a perfect credit
1. Bad Credit Loan To Get You Back on Track
2. Debt Management
3. Bad Credit Home Mortgage Loan Repair Strategies
4. How to find a good debt consolidation and counseling company
5. Student Debt Consolidation Loan

Credit Counseling and Debt consolidation services in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi,



Beware of credit-counseling fraud
Debt consolidation services in Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania,

Debt consolidation services in Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin and Wyoming.

Add website or submit URL link of your site to 1000 free directory