National Foundation for Credit Counceling and the Better Business Bureau
credit consequences. If you learn how to manage your debts right, you can preserve an excellent credit rating which is going to permit you to keep receiving credit. And in case that you fail and do not manage to continue with on time payments to your creditors (or even go in default) your credit rating will drop and you will be stuck with a bad credit score until you start credit repair or file for bankruptcy. One of the ways towards the credit repair is to slowly start building your credit score back to previous level. Not all states require a license but if yours does, make sure the credit counseling agency has the proper license. How do they charge for their services? Most reputable agencies do not charge a lot for their services. If you enter into a debt management plan with them, they will most likely charge a monthly administrative fee. Ask them for a list of all their fees. Some less than reputable agencies will give you a ‘loan’ to pay off all your debts and