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Investigate when picking debt-counseling agency

Credit- and debt-counseling agencies have proliferated in recent years, and not all the new players out there are trustworthy. The Federal Trade Commission warns consumers to be especially wary of organizations that make claims that appear too good to be true. There is no quick fix for people in deep debt, so steer clear of agencies that promise to expunge information from your credit report and ask for a payment before providing services.

The National Foundation for Credit Counseling Web site (http://www.nfcc.org), whose members are required to go through a rigorous accreditation process, is a good place to search.

Once you've narrowed your choices, you might want to check with the Ohio Attorney General's Office or the Better Business Bureau to see if the agency has received complaints.

Visit the FTC Web Site ''Fiscal Fitness: Choosing a Credit Counselor'' at
http://www.ftc.gov/bcp/conline/pubs/credit/fiscal.shtm.

Credit- and debt-counseling agencies have proliferated in recent years, and not all the new players out there are trustworthy. The Federal Trade Commission warns consumers to be especially wary of organizations that make claims that appear too good to be true. There is no quick fix for people in deep debt, so steer clear of agencies that promise to expunge information from your credit report and ask for a payment before providing services.

Get the full article here.


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