Numerous nonprofit credit counseling agencies exist to help consumers pull themselves out of debt. A variety of for-profit agencies exist as well. Use caution in considering all the options for consumer debt help – it is possible that some of the offerings available may be along the lines of a scam while others can be purely valuable debt assistance.
One thing to review is whether or not a consumer credit counseling agency is truly nonprofit or not. There have been some reports of agencies calling themselves nonprofit to lure in more consumers. Many times the scam agencies will charge a large fee upfront without actually guaranteeing the consumer completion of the program. The best thing to do is usually to check with the Better Business Bureau to determine whether an agency is truly nonprofit or not.
It is very important to be wary of all consumer debt deals, according to MSNBC.com, which reports that debt settlement deals can be a scam. Desperate consumers in debt may be more likely to believe those too-good-to-be-true offers, but many times they can be taken for a ride with the fees and other hidden traps. Read all the fine print and do your investigation closely before choosing a credit counseling agency to assist with your debt.