Introduction
One in every 5 Americans has a credit score of below 600. Cases of bankruptcy are at a record high, the global economic downturn is largely responsible for this predicament. It is not certain when the economy will make a turn for the better. Hence it is important for individuals to take proactive solutions to get out of their bad credit situation. If you are caught up in a debt situation you should consider enlisting the services of a credit agency that offers counseling services and solutions. This could be the life jacket that you need to prevent you from sinking into the deep end. A good credit agency will help you manage your debt situation, give you credit advice and show you ways to come up with a workable budget. In short, the credit agency can put you on the right path towards financial recovery.
Choosing a credit agency
Your choice of an agency has a major impact on your financial situation. It is wise to spend some time researching in order to engage the services of a reputable credit agency. Your primary goals should be finding a qualified agent who can offer personalized services and educate you on how to make better choices regarding your finances. The following checklist will come in handy when choosing a credit agency
Step 1
1. There are many credit agencies offering counseling services. Do not trust everything you read in an advert. It is better to ask your friends and colleagues about credit agency services in case they have used these services before. You should not pay much attention to agencies which advertise by making telephone calls or through spam-emails; they may be out to scam you.
Step 2
2. Once you get a few recommendations, it is wise to visit several agencies and talk with some of their agents. It also important to check if they are a member of the National Foundation for Credit Counseling.
Step 3
3. Check if the credit agency is licensed and accredited, they could just be a group of people taking advantage of your situation to make money. There are various standards of professionalism that licensed agents must adhere to.
Step 4
4. You should look at the qualifications of the counselor. They should have a financial background with various courses on debt management.
Step 5
5. Go for an accredited credit agency that offers personalized services. Every individual’s debt situation is different, you should be assigned an agent who takes the time to analyze your situation and come up with a workable solution. The plan he comes up with should be tailored to address your situation; he should not just give you general information. He should also call to monitor any progress; he should be like a coach.
Step 6
6. Check on their privacy and security measures to ensure the information you give is protected.
Step 7
7. Check on their services and go for a credit agency provider who has more detailed and comprehensive services.
Step 8
8. Insist on a written form of agreement. This should include any guarantees offered, costs and terms of payment. Ensure that the business name and contacts are included in the contract.
Tips
If you follow the above steps, you are bound to find a credit agency that will help you deal with your credit situation.
Sources and Citations
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