MONEY OBEDIENCE

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Debt counselors are financial professionals who can help you manage your debt. Since debt counselors know the ins and outs of debt negotiation, they may also be able to help you lower the interest rate you are paying on certain debts. Furthermore, debt counselors can also advise you about consolidating your debt, which may make repayment of your debt simpler and possibly cheaper.

As with any financial professional, it can be difficult to find competent debt counselors. You may have heard or seen advertisements for debt counselors who give you hope that you can lower or erase your debt easily. It is advisable that you do not make contact with such organizations. Getting out of debt is almost always hard work and requires a lot of discipline. While it is usually easy to get into a bad debt situation, it is almost always difficult to get out of it.

Fortunately, almost all states maintain a list of approved debt counselors who must adhere to a high ethical and professional standard to be and remain on that list. Some lists also include out-of-state debt counselors. You do not have to live in the same state as a debt counselor to utilize the service of a debt counselor on such a list. I think it is best to begin with these lists as you look to find a debt counselor. You might want to check with the Better Business Bureau also to be sure that the business you choose to work with has no formal complaints registered against it.

While all states maintain a list of debt counselors, some states display a list on the Internet. In addition, check out www.aadmo.org where the federal government consolidates all lists plus a lot of other useful information on one website. We have found that the following states have easily accessible sites.

Arizona
California
Connecticut
Maryland
Michigan
Mississippi
New York
South Carolina
Vermont
Virginia
Wisconsin
Federal Government

And always remember: if it sounds too good to be true, it probably is.