Article: Credit Counseling Services: Some Things You Need To Know
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Credit Counseling Services: Some Things You Need To Know
If you are one of the millions of Americans who have tons of credit card debt you may be considering using a credit counseling service. In fact, if you?re considering filing for bankruptcy, a new law will make it compulsory to work with one of these services. But the credit counseling industry is filled with sharks and there are a few things you need to know before you jump into the water with them.
First of all, recognize that many credit counseling services ? even the ?non-profit? ones ? can actually leave you in deeper debt than when you started. They convince you to enter one of their ?debt-management? programs and begin charging large fees (which are often hidden) that can end up making your total debt significantly larger. It?s a huge scam that many people have fallen ...
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