The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a […]
Part 6 of How to Choose a Credit Counselor. Steer clear of debt relief companies that: charge any fees before it settles your debts guarantee they can remove your unsecured debt tout a “new government program” to bail out personal credit card debt promise that unsecured debts can be paid off with pennies on the […]
Part 4 of How to Choose a Credit Counselor. Debt settlement differs greatly from credit counseling and Debt Management Plans. It can be very risky, and have a long term negative impact on your credit report and, in turn, your ability to get credit. That’s why the FTC and many states have laws or rules […]
Part 2 of How to Choose a Credit Counselor. Reputable credit counseling organizations advise you on managing your money and debts, help you develop a budget, and usually offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting. Counselors discuss your […]