Credit-counseling Program-debt-repayment

Finding a reasonable credit-counseling program can be a bit tricky. After all, it's not something you'd want to bring up with your fellow employees around the company water cooler. That means you'll have to do the labor on your own. But there are a few things to keep in mind to make the task easier and less encumbered with disappointment. Follow these 2 simple steps:

Step 1: Look for a nonprofit organization. You've spent too much already on interest rates and late fees, why pay more now? Nonprofits get most of their funding and donation from the creditors that they work with, not you. Privacy isn't usually an issue, but it's wise to check what the agency's policy is. Make sure that the non-profit companies don't sell your information. Many ask for only a nominal fee or a one time set up fee to enroll. And the nonprofits' relationship with the debt community has an added benefit. They can often negotiate better rates with those same creditors on your behalf and bring your payment to a reasonable standard.

Step 2: Find out upfront exactly what services you'll receive, such as counseling, a debt-repayment plan, budgeting advice, and financial education and tools. The more services, the better it is for you and for your family. You might want to have them put it all in writing and send you the information before you proceed. And ask if the organization belongs to any professional groups, such as the Better Business Bureau. Have them explain how they're audited and if your funds are protected. After all, they have all your credit information and you're sending them your money.