Below you will find a list of questions compiled by our debt expert Jack Howard for anyone in search of credit counseling services. These questions should be asked before you commit to a company, and certainly before you sign anything.
| Services and Information Offered 1. What services do you offer? 2. Do I have to pay anything before you will help me? 3. Do you have educational materials or checklists to help me prepare? 4. Do you send any forms or materials to me? 5. Are all of your teaching materials free? 6. Can I access your learning materials on the Internet? 7. Besides helping with my immediate problems, do you help me to avoid financial problems in the future? 8. What are your fees? 9. Do your fees ever change once I enroll in your program? 10. How do I pay you, and how often? 11. Are there monthly fees? 12. Are there ‘set-up’ fees? 13. How do you figure the fees? 14. Are you a non-profit agency? 15. What is the source of your funding? 16. Are there extra items for which I might have to pay, such as credit reports? 17. Do we sign a formal written agreement or contract? 18. How soon can a counselor begin to work on my case? 19. How will my counselor be paid? 20. Will he or she be paid more if I sign up for more services? (This is a warning sign. No one should make money by multiplying your troubles.) Counselor Training and Qualifications 21. Is there one counselor who will work with me, or is it a team effort?22. What are the qualifications of the counselor? 23. Does your company meet required state and professional standards? 24. How much training and experience has my counselor had in credit counseling? Agency Qualifications 25. Will you guarantee the confidentiality of my information, and do you have a confidentiality and non-disclosure agreement in writing? 26. Who regulates, oversees and/or licenses your agency? 27. Is your agency audited by an independent firm? 28. How long has your agency been in business? Understanding the Process 29. Is there a minimum amount of debt I must owe in order to use your services?30. How is the minimum and maximum of my monthly payment figured? 31. What if the minimum is more than I can afford to pay? 32. How does your debt repayment plan work in comparison to other plans? 33. How can I be absolutely certain that my creditors are receiving payments? 34. Does my money go into an account separate from your business operating funds? 35. How often do you report to me about my accounts? 36. Is there a way to access my account information online? 37. Will you help to eliminate my interest and finance charges, and to waive late fees? Possible Problems38. Is a debt repayment plan the only option that you have for me? 39. What if something unexpected happens and I cannot stick with the plan? 40. Are there any debts that cannot be included in my debt repayment plan? 41. Can you do anything to help me with any excluded debts? 42. What will you do if I still have problems with my accounts or creditors? 43. Is there anything else about your agency that I should to know? |
And Never Forget...
44. Can you please explain that to me further?
45. May I please have that in writing?
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