Bad Credit Agency

I want to know if I can rely on any credit couseling agencies or if there is a better way to relieve big debt.

My parents are in debt, about $30k and obviously the min. payments are definitly not going to get them anywhere. Problem is they don't own a home or any type of secuirty for a loan, so a bank loan is out of the question. I just want to know if there is some way that I can check up on a credit counseling agency, I know some can really help, or if there is another method altogether. I am looking into a charity that is connected with the United Way and their services are free. I'd be greatful for any insightful answers!

Public Comments

1. Contact Consumer Credit Counseling.That is the best place to start.
2. Getting loans is just adding more debt. That doesn't help pay it off. They need a local credit counseling agency like CCCS, not an internet or TV one. The credit counseling agency might charge $10.00 or so a month, but they will never try to loan money. They will set your parents up on a schedule to pay off each bill. Then they will call all the creditors and get them to wait for payments. But your parents have to stick to the schedule or the credit counselor will not back them up. They need to learn to live without credit so they can stop paying all their money in interest.
3. NO, those companies aren't good for your credit. The good news is that 30k isn't alot of money, we are talking about the price of a car here. Budgeting and raising income is the best way and slowly paying off the debt. Try to have them pay $25 on each card more than the min payment. Try to keep the debt on the lowest interest rate cards. Find ways to cut expences..get a plan that will work.
4. Just about any non-profit credit counseling agency can help but...they all tack a fee onto the payments. What your parents can do is....Call all of the creditors and state they lost their job and they will default on the loan unless they can just make principle payments. If one is firm and starts missing payments, the company will fold and allow a break in interest rates. It isn't underhanded or bad to do unless one can really pay it but if they are struggling, it is an option...This is exactly what a credit counseling agency will do so if you do it yourself, you are saving money every month. Good Luck to you and your family. ============================
5. You can check up on credir counseling services through the Federal Trade Commission website. They handle complaints and do the investigations of these agencies. There is a toll free phone number also if you need to talk to someone,it will be in the blue pages under U.S. Government of your phone book.
6. Tell them to quit being so lazy and put in some overtime. How long does it take to pay off 30k between two people? They don't have a drug problem do they?
7. credit counseling programs help a lot: Credit Counseling Programs http://www.complete-debt-info.com/category/Credit-Counseling-Programs.html