Credit Consolidation Services-5 Steps To Take Before Choosing

Deciding to use credit consolidation services as a tool to get your finances back under control is an important step and should never be taken lightly. With high unemployment and with no end is sight, these businesses are in such a demand right now that new ones are opening up all the time. And unfortunately for the consumer, to many of these programs will never deliver on their claims. In order to eliminate some of the fraud going on, we have compiled a series of questions consumers should ask before deciding which consolidation program is right for them.

Your first question to any credit consolidation services should be about the cost of the program they are offering and when does the free part end and payments begin. Most of these services will offer a free consultation to discuss your situation and available programs with you, but at some point you will have to start paying (Please don’t forget this, non-profit organizations are receiving funds from someone or somewhere so you should take the time to find out who they are). It just goes without saying that you should be aware of the amount of money and how often you must pay it before doing anything.


The second thing you will be requiring from potential credit consolidation services wishing to handle you as a client will be any fee they will be charging you in written form and given to you at the very start of the process. This will definitely aid the consumer should there come a time when there is confusion or questions concerning any program charges that may have come up that just don’t seem right. When figuring out your situation and who is going to help you with your important credit consolidation plans and needs this is not a negotiable piece of the puzzle.

A question you must have answered before deciding which credit consolidation services you will choose is best for you is if they charge consumers any fees or charges up-front. We are going to make this short and sweet. There were new laws put into place that basically prohibits this from happening. Should they be a company who still practices this then concerns from you should begin to arise. In my opinion there is no reason why you should continue your conversation with them. My advice to you would be walk away and forget about them.

Reputable credit consolidation services should not have a problem answering any questions concerning the qualifications of their counselors or agents. Any question you ask or any concern you may have should be answered to your satisfaction. Do not let them beat around the bush with this information. Try another credit consolidation program if they try any unethical practice at this point.

And last but not least, credit consolidation services will need to go through their accreditation with you as well as any complaints that may have been filed against them. These two are very closely related that’s the reason we combined them into one. Usually any service who is compliant with the federal trade commission, has all of their proper accreditation and licensing up to date, will generally be in great standing as far as the better business bureau is concerned. I would strongly advise everyone to do the necessary research to verify everything you have been told so you can make the proper decision when choosing who has the best program that fits all of your credit consolidation needs. If you follow these 5 steps and simply ask the right questions you will have no problem getting your finances back on the right track.