Credit Card Debt Reform Act – Tips To Find Legitimate Help With Credit Card Debt

Today debt management companies can be found locally on billboard advertisements

, on television commercials and even in mail fliers. One of the things that consumers are being warned about with the use of these companies is to read the fine print.

Not every debt counseling company or credit counseling company is the same. There are many that are non-profit that can be safe and then there are some that charge a large upfront fee from the person that is having overwhelming debt problems.

Many of these companies have in the fine print of the agreement are less than agreeable terms and do not conform to the Credit Card Reform Act. There are also many credit management companies that suggest withholding credit card payments until at least fifty percent of the amount owed is saved and then letting them arrange a payoff. Experts warn this is a gimmick, that the consumer can handle the payoff amount directly with the credit card company. They also warn that not paying these debts without the use of a credible debt management company can adversely affect the person's credit rating.

The person using a credit counseling company is warned to check with the Better Business Bureau prior to signing any agreements and to read the fine print carefully. There are places where it is possible to find reliable find free or non-profitcredit counseling companies like the website for the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies.

When dealing with a non-profit credit counseling company a fee of approximately $20 per month can be expected and in cases where it is not possible to pay one of these companies the fee can be waived until the financial debt issues have been satisfied.

Credit Card Debt Reform Act Tips To Find Legitimate Help With Credit Card Debt

By: jerryarcher

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