Are Credit Counseling Agencies Really Owned By Creditors?

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Are Credit Counseling Agencies Really Owned By Creditors?

sunflower seeds Rep Points:

Posted on August 10, 2010 at 4:18 am

it seems to be a common knowledge...but where's the proof?

mbrazier Rep Points:

Posted on August 12, 2010 at 2:06 pm

Its common rumor, not knowledge. I work for a nonprofit and creditors give us BETTER deals than a consumer or for profit because we have the consumers best interest at hand and provide a free budget analysis and free financial information to better educate America on the positive use of credit.

Sabastian6 Rep Points:

Posted on August 13, 2010 at 12:41 am

its not right though the debt counselors usually have good contacts in the credit industry; thus, they can negotiate better repayment terms with creditors. They even negotiate with the creditors to lower the interest rates, waive past late fees and "re-age" your past due accounts to a current "paid-as-agreed" status.