Finding an Accredited Debt Consolidation Credit Counseling
Agency
Your financial integrity is extremely valuable and if you need
help getting back on track the best people to go to for debt
consolidation credit counseling is a professional, accredited
agency. There are so many options that you can take to sort out
your debts that it may seem overwhelming and a debt
consolidation credit counseling service can help you to decide
which is the best route for you to take.
A debt consolidation credit counseling agency will go through
your financial situation and work with you, and your creditors,
to create a repayment plan that you can keep to until your debts
are paid off. There are literally hundreds of debt consolidation
credit counseling agencies and it is important to choose the
best one for you. One of the major factors that you should
consider when searching for the best debt consolidation credit
counseling agency to suit your needs is to check if they are
accredited to a third party organization. Accreditation means
that the services of the debt consolidation credit counseling
agency are endorsed by another organization that confirms their
high standards.
There are a number of organizations that a debt consolidation
credit counseling agency can be accredited by but the most well
known is the Council on Accreditation of Services for Families
and Children, Inc. (COA). This guarantees that the debt
consolidation credit counseling agency will adhere to high
standards of service delivery, counselor certification, fiscal
integrity, and volunteer Board governance. The COA does not give
accreditation to every debt consolidation credit counseling
agency and they only give their seal of approval to those debt
consolidation credit counseling agencies who meet their exacting
standards are given their seal of approval.
Many debt consolidation credit counseling agencies are members
of the National Foundation for Credit Counseling. Debt
consolidation credit counseling agents who are NFCC-certified
have undergone a rigorous training and testing program.
To receive accreditation the debt consolidation credit
counseling agency must comply with several service-specific
quality standards such as:
* Annual audits of operating and trust accounts
* The debt consolidation credit counseling agency meets all
consumer disclosure requirements as set forth by the Federal
Trade Commission
* Funds are disbursed daily and funds are disbursed immediately
in emergencies
* Each consumer receives an assessment of how he/she came to be
in financial difficulty, a comprehensive financial plan, and a
written plan of action
* Clients receive (at minimum) a quarterly statement
In addition, the COA has their own standards for service
delivery & quality that a debt consolidation credit counseling
agency must meet for them to be accredited which are:
* Meeting the needs of cultural/ethnic population groups in the
communities they serve
* Fair and equitable treatment of creditors
* Minimum fee structures for consumers
* Presentation of educational programs
* Counselors who are NFCC-certified
* Having a branch counseling network in place for support their
clients.
Finding an Accredited Debt Consolidation Credit
Counseling Agency.