Credit Counseling
Consumer credit counseling was created by the credit card companies. A credit counseling agency typically receives part of its income from the creditors to whom the debt payments are owed. This funding relationship has led many to believe that credit counseling agencies are merely a collection agency for the creditors. The agencies providing these programs work on behalf of the creditors and have no incentive to represent your best interests.
Credit counseling provides education and financial planning to help you resolve your debt. They do not provide loans nor do they reduce the amount of your debt. They educate you on your financial situation and educate you on how to resolve your current debt problems with an emphasis on how to avoid the same situation in the future.
