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So what are the factors you should take into account before looking into these organizations for help? What data points should you use to compare debt settlement and credit counseling services?
1. Location – though communication via e-mail or by phone is easy, nothing beats an in person meeting when it comes to learning how to deal with financial issues.
2. Services – Are you looking into debt management programs or just counseling? You should also look into specific information like housing counseling or pre-discharge debtor education.
3. Agency Type – Both for profit and not for profit agencies exist, but not for profit ones generally rank higher and charge less.
4. Affiliations – This is just more for credibility, but that’s how you know whether an agency can be trusted. 5. Price – even not for profits have to earn revenue to stay afloat. The average debt management plan is about $65 per month.