Many credit counseling services offer free materials and workshops relating to debt and debt relief, explains the Federal Trade Commission. Additional free options include seeking help with the U.S. Cooperative Extension Service, speaking directly to creditors and working out a modified payment plan, seeking information at the public library concerning budgeting and reading money management techniques online.
Credit counseling is another option for free debt relief, states the Federal Trade Commission. When considering working in tandem with a debt relief company or organization, always check with the Attorney General and local consumer protection agency to confirm whether the company has many complaints filed by consumers. Additionally, find out if licensing is required in the state and if the company is licensed, when required.
The majority of credit counselor's are non-profit and offer a multitude of counseling options, according to the Federal Trade Commission. Typically, options include counseling online, by phone or in-person. In-person credit counseling may be found at local housing authorities, universities, military bases and credit unions. In some cases, a credit counseling agency recommends a debt management plan or DMP. It is wise not to sign up for a DMP unless advised to do so by a reputable credit counseling organization or agency.