How to Find Credit Counseling that You Can Trust
- 1). Contact the National Foundation for Credit Counselors (NFCC) at 800-388-2227. Request a list of certified consumer-credit counselors in your city or town. Other listings are available in your local phone directory.
- 2). Interview the certified consumer credit counselor or credit counseling agency directly by phone or in person. Ask if the credit counselor or credit counseling agency is affiliated with a national body such as the NFCC -- which requires annual audits by an independent Certified Public Accountant (CPA) -- or an independent third party such as the Council on Accreditation (COA).
- 3). Check the agency's employment status. While a nonprofit community organization doesn't guarantee zero to low fees, such organizations aren't driven by a bottom line or need for profits. Inquire about setup fees and monthly fees. According to NFCC's website as of October, 2010, initial counseling fees for are usually $50 or less, with monthly fees in the $25 range. Ask if a fee waiver can be given in the case of true financial hardship.
- 4). Inquire about services. Look for variety of services such as budget counseling, debt counseling, housing counseling and foreclosure prevention. Ask how these services are rendered. For example, ask if the agency offers in-person counseling, counseling by phone or Internet counseling, which according to the NFCC, are common delivery options for counseling services. Ask how long each counseling session lasts and what additional resources are provided.
- 5). Meet with your counselor one-on-one. Get a truer sense of your counselor's commitment to her profession by speaking to her about your financial goals and problems. Look for signs of compassion, patience and honesty. You want a certified credit-counselor who is trustworthy enough to disclose all fees and conditions of service.
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