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Things to Know Before Beginning Debt Counseling
Michalis 'BIG Mike' Kotzakolios

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If debt counseling is the answer to your troubles there are certain things you should be aware of before hiring a company to do the work for you. You want to make certain that the company you hire can do everything you need at reasonable rates. So, to start with you want to know exactly what services they offer. You also want to know whether the counselors are certified in consumer debt management. This is not the only thing to consider but the better trained and educated the counselors the more likely it is that the debtor will get the help they need. As well, these companies often offer classes on budgeting and how to manage debt that may be helpful. Some counselors will set up a debt management plan to assist you in getting out of your financial problems; make sure the program has been catered solely to your needs.

Other questions you want to ask before choosing which company will counsel you on how to deal with your excessive debts is to make sure that learning about their services does not cost you. You also want to confirm that they are legally able to offer their services in the state you live in. Make sure that they are prepared to put you plan on paper. Do not agree to something over the phone. Everything you need should be set out in writing. If the counselors at a debt management company refuse to then they are not the place you want to deal with.

In addition you want to quickly learn about their fee system. If you are heavily in debt you do not want to make that worse by owing huge amounts of money to the debt management company. Ask for a quote in writing and learn what their terms are for their debt counseling services. How often do they expect to get paid and are there sign up fees? As well, checks to make sure that there have not been any complaints against the company or the debt counselor that you have been assigned. It is important for you to have someone to deal with who you feel you can trust since they may hold your financial future in their hands.

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