How to Choose the Right Credit Counselor

Posted on 18. Sep, 2016 by in Wealth Productivity

We all know we’re supposed to pay our bills on time, never spend more than we earn, and overall just be fiscally responsible. That being said, sometimes life just gets in the way. There are some people who watch every penny and stash away money faithfully from each paycheck. Though unexpected circumstances like serious illnesses can eat away at savings awfully quickly. It’s been said that medical bills are the most common type of expense sought by debt collection agencies. Long hospital stays coupled with overly expensive, yet inadequate, health insurance can put you thousands of dollars in debt through no fault of your own. Then we can all remember the economic meltdown back in 2008. Millions of homeowners watched the value of the 401k’s diminish while the value of their homes plunged well into the negative equity range. There are just some matters that are outside of our control, and they can adversely affect our credit for years to come. That’s there’s no shame in seeking out help when you are in dire financial straits. The trick is finding the right type of credit counselor to meet your individual needs.

First and foremost, you want to find someone who is affordable! After all, you are in this situation because you are having financial difficulties. You don’t need to work with an expensive credit counselor who will put you further into debt. After you read this Lexington Law review, you will see the qualifications they have and the benefit of using them for your credit repair needs. They are a one-stop shop that can cover your needs from A to Z. Meaning, they not only have financial experts on staff, but they also employee lawyers and paralegals that can handle your proceedings from beginning to end.

Another important measurement for any credit repair and counseling company is that they are properly licensed to do business in your state or region. The last thing you want to do is sign a contract and hand over all of your personal data only to find out they are legally unable to help you.

Lastly, it’s nice to find a counseling company that can not only help you get out from under your mountain of debt, but they can also help prevent you from finding your way there again. There are reputable agencies out there that offer budget counseling, as well as savings and debt management classes. In fact, some of these agencies require that you attend their classes in order to receive their assistance.

2 Responses to “How to Choose the Right Credit Counselor”

  1. Maricor Bunal

    17. Nov, 2016

    If you’re in that camp, perhaps a trip to your friendly neighborhood consumer credit counselor would be a good idea. Having someone other than your Uncle Lou take a look at your finances could be a godsend. A good counselor has seen lots of people like you before, and has developed solid suggestions on how you can overcome your current problems – and perhaps a wee bit of financial paralysis. A counselor can help you build a new financial plan that reflects current economic realities and is right for you. Finding the right counselor may be far easier said than done.

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  2. Alexa Katz

    15. Feb, 2017

    Thanks to your post I I finally checked my credit score after 10 years of not checking. Finally I know what it is and it is such a relief. thank you 

    Reply to this comment

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