Great Advice For Credit Agency

Introduction

People struggling can greatly benefit from a reputable credit agency at a time when they feel like there’s no one else to turn to. Recently there has been a boom of credit agencies offering a multitude of services. This means there are plenty of agencies willing to talk to a debtor about their debt problems. Usually the problem is in identifying the agencies that are worth talking to, and avoiding rip-offs.

 

Step 1

When identifying a credit agency only deal with organizations that are reputable. Most of these trustworthy agencies offer a wide range of services such as budget planning as well as debt management programs.

 

Step 2

Debt is a widespread problem so you it’s possible to know someone who has already used a credit agency. Though most people don’t readily talk about financial matters it does not hurt to ask around especially if you know someone who has been greatly assisted by such agencies. Family, friends and trusted associates can provide a wealth of financial advice on such issues.

 

 

Step 3

Look out for a credit agency with a long history and if possible one that operates as a non-profit. Using the services of a non-profit will greatly assist you to lower the costs involved in credit agency services. Bear in mind that simply because an organization refers to itself as non-profit does not mean that it’s legitimate. Conduct some research in to the history of the organization; the longer it has been in business the more credible it’s likely to be. Organizations that have existed between 5 to 10 years are not likely to close down once you have begun using their services hence they are good beginning points for you.

 

 

Step 4

The credit agency you identify should be in good standing with not less than two large trade associations. Some countries such as the US have regulations that require credit agencies to be accredited. Accreditation is a good sign but its no guarantee of an agent’s quality. Checking the websites of the accreditation associations can give you an idea about the organizations you can approach.

 

 

Step 5

Make sure the credit agency is licensed especially in areas where this is required. Most countries don’t allow credit agencies to operate without a license. Licensing is often done by various agencies such as departments of commerce, banking divisions and hence this makes it easy to identify credible agencies. Keep in mind that licensing does not mean that you can let down your guard.

 

Tips

Look out for a person who is complaining about a credit agency in your potential list and compile a list of complains. Find out if the organization has a complaint's office and how they have handled them in the past before committing yourself to work with the agency. You can also look at the company’s reliability report provided by the Better Business Bureaus in most countries. The report should be free of unresolved complaints; agencies with a host of unresolved complaints show that they are unreliable and untrustworthy.

Consider how long the credit agency has been in business and contrast that with the number of complaints the company have handled. It’s rare for a company to be in business for a long time without getting some complaints, however, don’t consider a company that has too many unresolved complaints in a short within a short time span.

 

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