Today I'm going to focus on what you, the consumer, should be looking for when picking a Credit Counseling company to assist you with your debt(s).  Because I work for AmeriFree Financial I thought I would do my best to eliminate any bias so I went to the Federal Trade Commission (FTC) website to see what I could find. 

There was some excellent information available for consumers, much of which I’m going to share with you today.  Of course the main focus of the FTC, relating to consumer debt, is to help us avoid bankruptcy and to prevent defrauding of consumers.  The information below was taken directly off of the FTC website.  I hope you find this interesting!

Before You File for Personal Bankruptcy:
Information About Credit Counseling and Debtor Education

Produced in cooperation with the Department of Justice’s U.S. Trustee Program

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 launched a new era: With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged.

Important Questions to Ask When Choosing a Credit Counselor

It’s wise to do some research when choosing a credit counseling organization. Some key questions to ask are:

• What services do they offer?
• Will they help me develop a plan for avoiding problems in the future?
• What are the fees?
• What qualifications do their counselors have? Are they accredited or certified by an outside organization? What training do they receive?
• What do you do to keep information about me (including my address, phone number, and financial information) confidential and secure?
• How are your employees paid? Are they paid more if I sign up for certain services, if I pay a fee, or if I make a contribution to your organization?
• How long have they been in business?
• Are they licensed in your state?
• How many consumers have they helped?

For More Information and Assistance

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them.

Conclusion

Thanks again for looking.  Should you have questions or would like to talk to one of the AmeriFree certified counselors in greater detail please call 1-800-360-9566 and they would be happy to assist.

Continue to check back often as information is continually being added!

Matthew

Debt Blogger

Do you find yourself asking whether debt settlement is a safe or a wise course of action for you? Many of us have become accustomed to asking the government (Big Brother) to provide advice on how to get back on our feet.  The question then is a simple one; does the government advocate debt settlement? Surprisingly the answer is a resounding YES!

With the increasing economic instability worldwide the government is looking out for consumers more than ever.  Good news for anyone swimming in debt, but how is the government helping?  Let’s just say Big Brother is putting a little “necessary encouragement” where it needs to…In fact, the FDIC has been told to regulate bank debt settlements to prevent unfair and deceptive practices from harming any consumers looking to get out of debt.

Why is the government helping?  The main reason is consumers are having a very difficult time making ends meet these days.  With wages going down, increases in corporate layoffs, and necessities becoming more expensive (fuel, food, etc.) consumers just don’t know where to turn.  While the law does allow you to file bankruptcy, the government does not advocate it because it damages the economy by forcing all involved parties to take a greater loss than they might otherwise have to. With debt settlement, the amount of that loss can be mitigated. You get to keep your assets and your creditors take a smaller loss on their investments.

The government has advised banks and other lending organizations to consider debt settlement as a “favorable” alternative to increasingly harsh collection action. Even though the government may not help you directly, it is still a good idea to get help from someone.  If you think you may benefit from debt settlement I encourage you to review the information on the AmeriFree website.

Bottom line is Big Brother wants to help but does not have the necessary resources at this time to do so…

Hope you found this information useful.  Please come back often as information is continually being updated.

Matthew

Debt Blogger