Debt counseling is very helpful to borrowers when they struggle with meeting monthly payments towards different debts. Debt counseling is offered by different companies and is also available online. Debt counseling firms and agencies commit themselves in educating clients about debt repayments and the wise usage of credit. The National Foundation for Credit Counseling (NFCC), Consumer Credit Counseling Services (CCCS), and Debtors Anonymous are some debt counseling agencies.

The National Foundation for Credit Counseling offers both local and online agencies to render credit-counseling services. They also provide money management education along with these services and charge a very reasonable fee. On the other hand, the Consumer Credit Counseling Services Organization help customers in debt related issues and also offers education on the use of credit, understanding a credit report, and budgeting. The online services of this agency are available at www.cccsintl.org. In the case of Debtors Anonymous, debt counseling services are not rendered by the organization directly, but it offers self-help groups who can share their personal experiences with the consumer, with one debtor helping another.

A consumer has to consider some important factors before choosing the right credit counseling option. First of all, he has to check with the type of money management services offered by the concerned organization and also whether the agency offers those services free of cost. The next important factor is credit counseling fees and their breakdown. Some agencies charge higher upfront fees and some others lower ones. Another important factor is the customer service offered by the agency. Whenever a customer needs any counseling, someone should be available in the organization during all the business hours.

It is advisable for the borrowers to approach only accredited credit counseling agencies. The customers should maintain complete details as to how much of each monthly payment is going to which creditor and how much towards agencys fees. The customers have to ensure that all the terms and conditions and promises made by the counselors should be in writing.