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Finding the right debt counselor

by | Aug 20, 2015 | Debt Relief

Receiving advice and services from a reputable debt counselor in New Jersey can be very beneficial if you are seeking debt relief. This individual can help you to map out a repayment plan for paying off debts and set a budget that will work well for your lifestyle. Tackling your finances can relieve huge amounts of stress, especially if you are living paycheck to paycheck. Many people would love to get advice from a debt counselor, but they do not know how to go about finding a professional who will be right for their situation. There are some red flags that you should look out for as you seek a debt counselor.

Some agencies who advertise as “nonprofit” are actually looking to exploit clients for monetary or personal gains. The services that are presented for sale often leave customers in more debt than ever before. 

Credit repair agencies, or similarly labelled services, often charge huge fees to clean up debt. Many of the services that they offer can be completed for free by any individual. These credit-counseling agencies commonly advertise their ability to qualify clients for additional loans. 

The majority of debt counselors offer a debt management plan service that requires the client to make deposits. These deposits are then used to pay off student loans, medical bills, credit card debt or any other debts incurred. Though this is a great solution, be sure to check that the agency has other options. There should be no extra or hidden fees for these services or debt negotiations.

It is a great idea to check for complaints that have been filed with the Better Business Bureau before settling on a debt counselor. Anyone who is struggling with overcoming debt can benefit from a professional, but finding the right one is critical. If you would like additional information on debt relief options, such as bankruptcy, it may be beneficial to consult with an attorney.


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