You Can Find a Credit Repair Counselor

The Federal Trade Commission is cautious when it comes to recommending a credit repair counselor, suggesting that nonprofit counselors should be considered including those affiliated with the Consumer Credit Counseling Service. Most nonprofits charge a sliding scale or such services might be free. However, just because a service is through a nonprofit, what you get may not be enough to meet your needs.

You can find a credit repair counselor in your area including nonprofit counselors:

1. Inquire with community organizations.

Groups that serve the local community including the Salvation Army, Lutheran Social Services, the United Way and local houses of worship are great places to ask about credit repair counseling. Some of these organizations provide these services in-house while others can refer you to other groups that do.

2. Ask your banker

— If your banker, including your credit union associate is aware of your financial struggles, she can also recommend someone for whom you to call. Lenders want borrowers to have their financial difficulties under control and will do what they can to connect you with the right people for help.

3. Check with your county office

— The U.S. Cooperative Extensive Service operates nonprofit credit counseling programs, many of which are handled at the county level. Also, colleges, universities, housing authorities and military bases offer counseling.

Once you find one or more credit repair counselors, interview these people to find out what services they provide and what fees, if any, are charged. Likely, your credit counselor will advise you to obtain copies of your three credit reports and negotiate with your creditors to reduce your debt, lower your interest rate or both. These things you can do yourself, but you may find working with a credit repair counselor helpful.

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