There’s no stepping around it, we are in a very tough economic situation right now. Money is becoming a bigger and bigger issue with many individuals and families. There is added pressure to save money which can be hard if you are already finding yourself in debt.
The economy today has sent up many red flags in our society. There are more and more people filing for bankruptcy and there are even more families struggling to keep themselves out of bankruptcy. There is help out there for individuals and families who are trying to get a handle on their financial situations so if this is you make sure you find yourself some help.
There is no shame in having to get help during these tough economic times. If you are taking a proactive stance by getting help with your finances then there is no shame in that. Many families and individuals get help from credit counseling services each day so don’t look down upon yourself if you need some assistance in managing your debt.
You may be asking exactly how these agencies are going to help you when you are already in debt. Credit counselors and credit counseling agencies are all different and offer you unique packages and services but they do all share one common goal: helping you get out of debt. Basically how they do this is by talking to your creditors to get your payment rates lowered. They do this by getting creditors to lower the interest rates which will in turn help you lower your monthly payments. If you have tried to do this yourself and have failed, don’t fret as credit counselors are experts in explaining financial situations and usually have better luck.
Something you should be aware of when you begin looking for a credit counseling agency is to make sure you find a legitimate one. There are many scam artists out there who are looking to take advantage of people, yes even when you are down on your luck, so it is important to be cautious. Don’t believe those emails you get saying they can solve your debt fast as they are scams. Getting out of debt is a slow process so don’t expect it to happen overnight.
So how do you go about making sure a credit counseling agency is legit? First of all you are going to need to check their accreditation. Make sure that not only is their accreditation up to date but that it comes from a legitimate outside party such as the Better Business Bureau (BBB). If you question the legitimacy of an agencies accreditation you can contact the BBB and they will let you know if you can trust the agency. You also need to make sure that the credit counseling agency is familiar with government regulations. For a credit counseling service to meet law requirements they will need to meet Section 501(c) (3) of the Internal Revenue Service Code. They should be able to produce accredited documentation of this but once again if you have any questions be sure to contact the BBB. Another important thing to check into is the counselors themselves. Make sure they are fully licensed by an outside party and that they are familiar with the government regulations as well.
The economy we live in today is harsh and many people are having problems with their financial situations. If this sounds like you, there is help out there. Seek out a qualified credit counseling agency and see what they can do for you. Be proactive and take a step in a direction that will not only help you manage your debt but that will lay out a path for you to get out of debt.