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Money and Finance > Borrowing or Lending Money > Debt Counseling > CONs
 Posted by AimeeLou1984
Dec 14, 2006 08:49 PM
Debt Counseling
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Debt Counseling is a service offered by many companies which basically advises you as to what you can do when you are in debt. These days there are less people who are not in debt than there are who are actually in it. In fact it is considered more normal to have various debts than it is to not have them! So, debt counseling is set up in case you need somebody to talk to and in case you need that little extra help.
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| CONs |
What's your rating |
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| Shoddy Service |
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| Another disadvantage of debt counseling includes the fact that many operate shoddy businesses and you are not receiving the help that you could be getting.
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| The Extra Cost |
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| Whilst there are some debt counselors who do their job with no extra charge to you, most tend to charge an arm and a leg and you will end up even more in debt sometimes using their services. So, try and find a free one wherever possible! |
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| Lack of Privacy |
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| Debt counselors need to know everything that you have coming in and out of the bank and they need to know various personal details about you before they can help. This means that if you are shy of revealing those personal details debt counseling is certainly not for you! |
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| It Takes Time |
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| Debt counseling is not a quick fix and it will take time to sort things out and to actually find a company to help you. You need to do your research before talking to any debt counselor just to ensure they are real and that they can actually help you. |
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| Be Careful Who You Trust |
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| Sometimes debt counselors are not really who they say they are and unfortunately some people lie to make money out of other people’s bad circumstances. So, always check that the agency you go with is respectable!
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