Credit Repair Help
Up to your eyeballs in debt with no relief in sight? Credit repair help may be easier to find than you think. Debt-burdened consumers in the United States can turn to any one of several nonprofit credit counseling networks that provide services in all major cities and even over the internet.
American consumers have been turning to the National Foundation for Credit Counseling (NFCC) for credit repair help since 1951. The foundation began as an industry watchdog keeping track of federal legislation that involved regulation of the retail credit industry for the nation’s consumers. They also actively promoted public awareness campaigns targeting consumer credit issues.
By 1993, the Association of Independent Consumer Credit Counseling Agencies (AICCCA) began operating under the mission of promoting industry-wide standards, including ethical issues. Unlike the NFCC, which felt the best counseling efforts were achieved in face-to-face discussions between counselor and consumer, the AICCCA favored telephone counseling sessions.
Of the three largest credit repair networks in the US, the American Association of Debt Management Organizations (AADMO) claims to be the largest. All three associations now offer a combined approach to consumer credit counseling, including help in person, on the phone, and on the internet.
These three nonprofit agencies offer free credit repair help to American consumers but such help is by no means limited to members of these trade associations. There are more than 1,000 credit counseling companies currently operating in the US and many of them operate independently of any trade association. Many of them operate on a for-profit basis, too.
Consumers looking for credit repair help must be careful when choosing a counseling service because many of them charge fees to help an already cash-strapped consumer find the way to debt relief. Many of these fees are clearly advertised and carefully explained but many others are hidden or discussed so vaguely that many a consumer finds him- or herself even deeper in debt before understanding the services for which they are paying.