Steps For Choosing the Best Debt Management Agency
Not all debt management agencies – or their plans – are created equal.
In2005, Congress enacted sweeping changes to existing Chapter 7 and
Chapter 13bankruptcy laws. One of the most significant amendments made
pre-bankruptcycredit counseling mandatory. Individuals who wish to file
bankruptcy must nowpay for a credit counseling course before they can
even file a petition. In thewake of these changes, the credit counseling
landscape has become overrun byagencies offering credit counseling
courses and debt management advice.
Many claimthey can help consumers pay down or eliminate debt. In
reality, not everycredit counseling agency has consumers’ best interests
in mind. With so manyagencies online, it is difficult to sort through
the promises to find the best debt management companies. Knowingwhat to look for will help you choose the bestdebt management solution for your individual needs.
Consider the company’s public trackrecord
The Better Business Bureau is a public resource that collects
objective,unbiased information on businesses and charities. It also
investigates consumercomplaints and awards performance ratings to
businesses based on a number offactors, including the type of business,
number of years active, licensing andgovernment actions, and how a
business handles complaints. CredAbility hasearned an A+ rating from the
Better Business Bureau and handles consumer creditcounseling in all 50
states.
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