Anyone giving financial advice should (a) know what they are talking about, and (b) have your best interest in mind – especially when it comes to money.
That’s why it’s important to find a certified credit counselor that works for an accredited credit counseling agency.
Certified and accredited are the keywords here. They mean that an independent organization has verified that the counselor knows what they are talking about and that the agency has your best interest in mind.
To become certified, a credit counselor is required to pass an exam that tests their financial knowledge and ability to guide a consumer through a credit counseling session. Two of the largest independent certifiers are the National Foundation for Credit Counseling (NFCC) and the Financial Counseling Association of America (FCAA).
Look for those initials – NFCC or FCAA – when searching for a credit counseling agency.
Certified credit counselors are trained in general money management, credit card debt, bankruptcy, housing and student loans.