Concerns about Debt Management Credit Counseling

With so many people currently in debt and having credit troubles, debt management credit counseling companies are popping up everywhere. How can you know which are worth your time and which are not what they seem?

There is no simple answer for this, but there are some facts and resources that can help you decide for yourself and eliminate any concerns you may have. First, did you know that there are only 17 states in the US that mandate specific guidelines for debt management credit counseling companies? The lack of regulation has made concerns grow among consumers and have allowed many companies to scam people out of their information, and eventually, their money. For the best facts and resources about debt management credit counseling companies and how to choose one, Consumer Affairs offers the following advice.

• Avoid any agency that advertises on television, solicits you by phone or sends you spam.
• Don't be misled by agencies that say they are "non-profit." It is a meaningless designation.
• Don't give your credit card or bank account numbers to any agency over the telephone.
• Don't agree to fees of more than $20. Reputable agencies do not keep the first month's payment, demand a contribution or charge high fees.
• Don't believe anyone who says you can "wipe out" your debt.

If you follow these guidelines from Consumer Affairs you can eliminate your concerns about choosing a debt management credit counseling company and start fixing your debt today.