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How to Deal With Your Debts

Excerpt: Some consumers turn to companies which claim they can fix credit problems. These companies, sometimes called "credit repair clinics," often make misleading promises to consumers, such as promising to remove a bankruptcy from their credit report and charge high fees for doing the same things consumers can do on their own.

Once you've obtained credit, it's easy to be overwhelmed. You may overspend, become ill, or lose your job, making it difficult to keep up with your bills. If you cannot resolve your credit problems alone or you need additional assistance, you may wish to contact an agency like the National Foundation for Consumer Counseling: http://www.nfcc.org. This is a non-profit organization which provides member agencies by location for consumers who are in debt. A counselor from one of these member agencies will help you set up a budget and reduce your reliance on credit. They can also, where the circumstances are right, assist in arranging a repayment plan between you and your creditors. The toll free number for 24 hour automated office listings is 1-800-388-2227.

Some consumers turn to companies which claim they can fix credit problems. These companies, sometimes called "credit repair clinics," often make misleading promises to consumers, such as promising to remove a bankruptcy from their credit report and charge high fees for doing the same things consumers can do on their own. For a description of this problem, see a Federal Trade Commission alert titled FTC Testifies about Credit Counseling Abuses. You need not pay someone else to learn what is in your file or to correct inaccurate information. See the Credit Reports section in this brochure for more information about how to get and correct information in your credit file. If you have legal questions regarding the benefits and consequences of bankruptcy, you should consult an attorney through the Washington State Bar Association. The WSBA can direct you to attorneys with expertise in specific areas of law. The toll-free number is: 1-800-945-WSBA.

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