Know what to ask about fees before entering into a DMP
Having financial troubles can be very difficult to manage and in most instances creates an extreme amount of stress in one’s life. However, there are viable options available to help you during these challenging times and enrolling into a debt management, or debt consolidation program with a reliable and reputable agency will most likely provide you with the best options for getting out of debt and back on track financially.
Before you make any hasty decisions and decide to work with an agency, you should take the time to research the true cost of Credit Counseling. There are many agencies out there that charge exorbitant enrollment fees, set up fees and monthly fees. Knowing what to look for is key in your decision-making process. Here are some crucial points to look for when determining the best agency.
- What are the fees? Are there any setup fees and or monthly fees? Be sure to get a specific price quote from the counselor.
- Most agencies are subject to state law and can charge no more than the maximum allowed within your state. Make sure you ask the counselor about the specific regulations for your state.
- If you are unable to afford the fees of the agency, the agency should be willing to waive the fees if you simply can't afford them.
- Be sure the agency is charging you reasonable fees (not more than $50/month for a debt management plan), but this can vary by State.
- If the agency asks for a voluntary contribution, you may want to consider another agency. There is no such thing as a voluntary contribution.
- Does the agency charge for educational programs and ongoing education? Be sure the agency is willing to provide you with educational materials and resources to help you learn how to manage your finances. The agency should also be able to provide you with ongoing counseling and education at no charge.
ACCC strives to maintain the lowest possible fees to consumers nationwide. Since 1991, ACCC has only made two changes in its fee structure and continues to do everything possible to make our services affordable. We believe strongly in not adding more financial burden to the clients we serve.
We charge a one-time $39 enrollment fee and $5.00 maintenance fee per account and there are never any hidden fees. In addition to this, fees may be waived or discounted depending on your state's regulations, for financial hardship or if are you are an active service member in the United States military. ACCC also provides educational programs at no cost to you as well as ongoing counseling and education. If you choose to work with ACCC, you can be assured we will work with you every step of the way and provide you with a workable and affordable plan.
To learn more about Choosing a Credit Counseling Agency, read more.