Credit Counseling Not Working?

Credit Counseling Alternatives
Dallas • Fort Worth (Ft. Worth) • Plano TX

Many consumers seek help from credit counseling organizations in managing their debt or "repairing" damaged credit. But as the demand for credit counseling has increased, the nature of these agencies has changed, and many credit counseling agencies do not have your best interests at heart. Federal regulation of the credit counseling business is fairly loose and state regulation is generally ineffective. That means that you must be very cautious when contracting with a credit-counseling agency. Many consumers seek assistance to educate themselves and do the right thing by addressing their debt problems only to be taken advantage of by consumer credit counseling services that promise credit repair, reduced payments, and miraculous results in an impossibly short time frame. As the saying goes, if it seems too good to be true, it probably is. Not only might these counseling services not help, they can actually increase your indebtedness. Many people trying to avoid bankruptcy are unaware that credit counseling also reflects negatively on your credit report.

Which is the better choice, credit counseling or bankruptcy?

To use a credit-counseling agency to help you pay your debts, you must have the income to do so. You must make a payment each month to the agency, which will then pay your creditors. However, if you miss a payment any one creditor can refuse to continue in your plan and all your creditors may not agree to participate in the plan to begin with. Also, the plan usually requires that all debts be paid in full. In comparison, in a Chapter 13 bankruptcy, depending on your income and expense you may pay only a small fraction of certain debts (non-priority unsecured debts).

If credit counseling is not working

You are not alone if you tried credit counseling only to find out that it is not working or has turned out to be different than advertised. Consumers nationwide have been misled into credit counseling programs that are expensive, unenforceable under state and federal law, and damaging to credit ratings.

If you believe that you may be a victim of credit improvement fraud, you should immediately file a complaint with the FTC by calling toll free: 1-877-FTC-HELP, or online at www.ftc.gov.

Contact a Texas Business and Consumer Bankruptcy Lawyer Today

We offer a complimentary consultation and evaluation at one of our offices in Dallas, Fort Worth or Plano to ensure that bankruptcy is a viable option for your situation, and to discuss how the bankruptcy laws can help you and your business get a fresh start. Please schedule your no-obligation, free, confidential consultation and evaluation with an experienced business and consumer bankruptcy lawyer by calling us toll-free at 1-800-518-DEBT (3328) or filling out our online bankruptcy evaluation or quick e-mail intake form.

We Provide Compassionate, Courteous Service

We understand things happen. We never judge our clients, and we are always courteous and respectful. You can be assured that we will do everything we can to help you relieve the anxiety and stress you are under. We will take the time to listen to your situation and explain your options, which may or may not include bankruptcy. If bankruptcy is a viable option, we will inform you about and guide you through the process. We can utilize bankruptcy laws to help you stop creditor harassment, foreclosures, repossessions or wage garnishments.

You Will Receive Prompt Communication and Personal Attention

We have earned our reputation for providing every client with close, personal attention. Nothing is more frustrating than being unable to have questions answered or problems addressed by your attorney's office in a timely fashion. We will return your phone calls as quickly as possible and make it a priority to address your concerns in a timely manner. Unlike many bankruptcy law firms, you will meet with an attorney on your very first visit. We are committed to helping you.

Convenience

We offer multiple office locations where you can personally discuss your options and how we can help you. We have offices conveniently located in Dallas and Fort Worth. Texas. Please schedule your no-obligation, free, confidential consultation and evaluation with an experienced business and consumer bankruptcy lawyer by calling us toll-free at 1-800-518-DEBT (3328) or filling out our online bankruptcy evaluation or quick e-mail intake form.

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