How to Find Reputable Agencies That Offer Credit Counseling in Oshawa

There are many companies offering credit counseling in Oshawa, but you have to know where to look to find those that are genuinely willing to help. The whole process can really be a very positive experience if you choose a reputable organization.

Reputable credit counseling agencies can help you get out of debt in several ways:

• Provide advice and guidance on money and debt management.
• Help you develop a budget.
• Negotiate a repayment plan with your creditors to reduce or eliminate interest charges and stop late and overlimit fees.
• Offer  free educational materials and/or courses on basic money management.

Trustworthy agencies share these common characteristics:

• They have counselors that are certified and trained in consumer credit, money and debt management, and budgeting.
• They send out free information about their organization and the services it provides without requiring you to provide any details about your situation.
• They always provide an initial counseling session which normally lasts an hour, with an offer of follow-up sessions.
• They will evaluate your entire financial situation thoroughly and help you develop a tailored plan that will solve your money problems.
• They have specific rules in place that are aimed at protecting consumers from potential stumbling blocks such as high up-front fees and late payments to your creditors.
• They are accredited by a National Association of their peers, like the Ontario Association of Credit Counselling Services (OACCS)

If a credit counseling agency doesn't have these trust factors, consider it a red flag and try to find another company to help you. Here are some tips to help you find the best agency that will work best for you.

Check out basic information

Look up better business bureau records or do a search in google for both for-profit and nonprofit agencies. In canada, there is a general rule that a company that provides a high standard of service should not have more than 1 or 2 complaints filed on their record with the Better Business Bureau (BBB) within a 3 year period. It is based on the simple logic that when the service provided is good, then the client won’t have any complaints at all.  Based on this standard of measure, check if a company has really good client reviews across several reputable websites.

Check out the fees

Reputable credit counseling agencies are bound by a strong code of ethics from charging high setup fees. They may ask for monthly administrative fees, but these are generally limited to $50. There is usually an initial DMP Enrollment fee of about $75 or less. If you cannot afford the fees, most agencies are willing to reduce or waive the fee.

Check if they provide in-person help

Nowadays, we see many companies providing counseling services through phone and internet communication. If you are someone that connects better with face-to-face interactions, then you should find an organization with a local office near you that offers in-person counseling. Ask friends and family whom you know have have used credit counseling services before to recommend any to you. Your financial institution and local consumer protection agency may also give you some good referrals.

If you’re struggling with a heavy debt load and can’t keep track of mounting bills, can’t stick to a budget, or can’t work out a repayment plan with your creditors, then you may need to contact an organization that offers credit counseling in Oshawa that will work with you to solve your financial problems. Be sure to do a thorough review of each company you plan to work with to ensure that you choose only the legitimate and reputable ones that won’t cause you to acquire any more debt.