Bad Credit Services

Bad Credit Credit Creditres by Joel Walsh

Signs of a Reliable Credit Counseling Agency

__Better Business Bureau Membership

A successful repayment plan requires you to make regular, timely payments, and could take 48 months or longer to complete. Ask the credit counseling service for an estimate of the time it will take you to complete the plan. Some credit counseling services charge little or nothing for managing the plan; others charge a monthly fee that could add up to a significant charge over time. Some credit counseling services are funded, in part, by contributions from creditors.

Bad Consolidation Credit Debt The service's website should have a BBB logo and a link to their record on
the Better Business Bureau website. Click through the link to check that there
are no unresolved complaints against them. Many people only think about the
Better Business Bureau after they've been cheated, but by then there's not much
you can do. Working with a credit counseling agency that is a member of the
Better Business Bureau means that you can go to them to help mediate any dispute
you might have with the service provider.

__Accreditation

If you aren't disciplined enough to create a workable budget and stick to it, can't work out a repayment plan with your creditors, or can't keep track of mounting bills, consider contacting a consumer credit counseling service. Your creditors may be willing to accept reduced payments if you enter into a debt repayment plan with a reputable organization. In these plans, you deposit money each month with the credit counseling service. Your deposits are used to pay your creditors according to a payment schedule developed by the counselor. As part of the repayment plan, you may have to agree not to apply for, or use, any additional credit while you're participating in the program.(By the way, Consumer Reports magazine had a great article on Credit Counseling in their July 2001 issue. In the article they discuss private credit counseling companies as well as the traditional Consumer Credit Counseling Service organizations.)

Bad Company Credit Repair Reputable credit counseling services will be accredited by an independent
nonprofit, just as many schools are. One such accreditation body is the National
Institute for Financial Counseling Education.

__Fees

Bad credit loan, bad credit mortgage, bad credit rating, poor credit rating, mortgage bad credit, mortgage bad credit rating

Bad Card Credit Credit A good credit counseling agency will charge a small, reasonable monthly fee,
usually around $30. Some also charge a fee upfront, though this fee should be
reasonable (around $50 tops). It may be possible to get a hardship waiver of
these fees if you truly do not have the $30-50.

__Clear Application

With the change in the new bankruptcy law effective October 2005, it is now necessary for consumers to get credit counseling within the six months before filing bankruptcy. The credit counseling service must be from a government approved credit and debt counseling organization. //www.usdoj. cc_approved.htm

Bad Car Credit Loan The application must clearly say what the fees to be paid are, what the
services to be provided are, and in what timeframe all of this will be
provided.

__Reasonable Promises

Credit Builder is an optional service that is made available to you at no additional cost as part of the AccountNow bill payment service. Credit Builder is only a service that provides your payment history to credit reporting agencies. Credit Builder does not improve or repair your credit record, credit history or credit rating. It also does not provide advice or assistance for the improvement or repair of your credit record, credit history or credit rating. For rmation, see Credit Builder Terms and Conditions.

Bad Credit Loan Mortgage Run far, far away from any organization that proposes to "wipe out" your debt
for you, rather than simply helping you to repay the debt. Short of your
creditors just deciding to forget about the debt (unlikely), there is no way to
erase debt-even bankruptcy leaves a huge mark on your credit report for ten
years.

Auto Bad Credit Loan True, your car may not go missing from your driveway if you stop paying
unsecured debt (i.e., debt that is not "secured" with collateral, like most
credit cards, unlike most auto loans). But you are still legally obligated to
pay the debt, and the possibility of being taken to court will loom over you.
You will likely be unable to get even "bad credit" financing if you still have
debts in collections-good luck buying a car or house.

Not Necessarily Signs of a Reliable Agency

XX Nonprofit Status

Bad Credit Mortgage Refinance Nonprofit status is essentially a tax designation, not a government
endorsement of a group's mission. There are plenty of near-fraudulent credit
counseling agencies that are registered nonprofits.

XX Respectable Name

Bad Credit Refinance Any group can put words like "National," "Alliance," "Assistance," and other
trust-inspiring words in their name. But a name is just a name. Make sure to
check any organization against the list above to make sure they're reliable.
Also try searching for the group's name on a search engine. Don't just look for
a lack of negative reports-that might just mean the group changed names
recently. Instead, look for positive reviews from real people, and preferably
mention on reputable third-party websites, such as news sites.

Bad Credit Mortgage Second Ready to find a credit counseling agency? You're in the right place: the web
is full of credit counseling agencies. Just use the checklist above, and you'll
have no trouble separating the saints from the scams.

Bad Credit Loan Student Joel Walsh has written on credit
counseling: http://www.debtguru.com [Publish this article on your website!
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