With Flood of Financial Problems, a Way to Locate Reputable Credit Counselor is Critical




FAIRFAX, VA - February 4, 2008 — The worries associated with the U.S. financial crisis and anticipated massive layoffs have caused more people to seek help in getting out of debt now. However, credit counseling has had its fair share of "buyer beware" scams, making it critical for consumers to do their homework when the time comes to select an agency.

"Legitimate credit counseling agencies have nothing to hide and are willing to answer all of a potential client's questions to their satisfaction and provide them with written disclosure of all fees and services," says Dave Jones, president, Association of Independent Consumer Credit Counseling Agencies (AICCCA). "We recommend that consumers thoroughly research agencies before entering any into agreements."

To help find a reputable credit counseling agency and to get help now call AICCCA at 866-703-8787. AICCCA advises that consumers be sure that any agency they consider offer the following:


Third party accreditation. An agency that is accredited by a third party must demonstrate that it is meeting the highest quality standards set by the industry.

Certified counselors. A certified credit counselor has undergone training and meets financial education guidelines.

Nonprofit agency. As a general rule, nonprofit agencies work with the best interest of their customer at heart. However, nonprofit status alone is not the sole criteria by which to judge an agency.

Good customer service record. Check with the local Better Business Bureau or Attorney General's Office. Look for agencies with no or low numbers of complaints. Any listed complaints should have been successfully resolved.

Full disclosure of policies and operations. All services, procedures and fees should be outlined in written form and provided before entering into any agreement for services.

Reasonable fees. A reputable agency will never charge a large upfront fee or request a voluntary contribution such as the first month's payment of a debt management plan. Fees should not exceed $75 to set up a debt management plan or $50 per month to maintain the plan. If the consumer is unable to pay fees, the agency should be willing to work at no cost to the consumer.

Comprehensive counseling. The agency should spend an adequate amount of time discussing the customer's financial situation and the options available. Consumers should feel no pressure to sign up for a debt management plan, but should receive a comprehensive counseling session where a certified counselor reviews their finances and makes recommendations that best meet the client's needs.


A credit counseling agency that will benefit the consumer in need of financial assistance will meet all of the above items and will work with all creditors regardless of whether or not they support the agency through fair share contributions. AICCCA member agencies offer these quality standards and more.

Founded in 1993, Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services. AICCCA and its members are focused on improved creditor relations, efficient processes and advanced technology to best serve clients and creditors. AICCCA members are independent nonprofit agencies that advocate for debtors, counsel millions of consumers annually nationwide and provide debt management services to consumers with excessive unsecured debt. For more information or to contact an AICCCA member office call 866-703-TRUSTAICCCA (866-703-8787) or visit www.aiccca.org.