If you considered repairing your credit yourself, but decided that this was not for you, a credit counseling agency may be your choice. Sometimes you may be feeling so guilty and emotional about your debt and poor money management that you have to get help from someone else.
When you explore outside agencies, you will immediately notice that there is a plethora of credit repair companies promising you the moon and the stars. Sure, credit repair in 24 hours sounds great, but you can be sure that it's not going to happen. This kind of claim can be easily dismissed. Also, the internet will offer to have several agencies contact you. They will (in 5 months) and/ or they will make some possibly nasty phone calls to you. Avoid these offers.
If you are going with the third party option, you will need to conduct a serious investigation of the agencies you select for consideration. There is some basic information that you are going to require prior to selecting an agency to meet your needs. Shop and compare.
There will still be more research needed before you will be ready to choose your agency. You will need to know what is "must have" information. You should get information from more than one agency. Comparison shopping is definitely in order.
You need to be able to get the basic information about a company such as its services and fees without being asked for any of your financial situation. If you are not provided with this information do not go further with such an agency.
Once you locate agencies that provide you the initial information, you are going to want more questions answered. You will need to hear the effect this process will have on your credit report, the debt management services offered, possible money management workshops or seminars. You must know how the agencies will keep you apprised of their activities.
One of the most important questions to be answered is: what are the agency fees? Some will ask for large amounts of money upfront and large monthly fees. If you can't afford all your debt payments, how will you afford agency fees? Be careful that you don't get into a long, drawn out repayment situation because of charged fees even if the agency claims to be nonprofit.
It is apparent that finding the right credit repair agency will take some work from you, the payoff will be finding the right match for you.
When you explore outside agencies, you will immediately notice that there is a plethora of credit repair companies promising you the moon and the stars. Sure, credit repair in 24 hours sounds great, but you can be sure that it's not going to happen. This kind of claim can be easily dismissed. Also, the internet will offer to have several agencies contact you. They will (in 5 months) and/ or they will make some possibly nasty phone calls to you. Avoid these offers.
If you are going with the third party option, you will need to conduct a serious investigation of the agencies you select for consideration. There is some basic information that you are going to require prior to selecting an agency to meet your needs. Shop and compare.
There will still be more research needed before you will be ready to choose your agency. You will need to know what is "must have" information. You should get information from more than one agency. Comparison shopping is definitely in order.
You need to be able to get the basic information about a company such as its services and fees without being asked for any of your financial situation. If you are not provided with this information do not go further with such an agency.
Once you locate agencies that provide you the initial information, you are going to want more questions answered. You will need to hear the effect this process will have on your credit report, the debt management services offered, possible money management workshops or seminars. You must know how the agencies will keep you apprised of their activities.
One of the most important questions to be answered is: what are the agency fees? Some will ask for large amounts of money upfront and large monthly fees. If you can't afford all your debt payments, how will you afford agency fees? Be careful that you don't get into a long, drawn out repayment situation because of charged fees even if the agency claims to be nonprofit.
It is apparent that finding the right credit repair agency will take some work from you, the payoff will be finding the right match for you.
About the Author:
With unprecedented problems in the credit markets it?s more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
No comments:
Post a Comment