Comments on: The Hard Truth About Credit Counseling http://toughmoneylove.com/2008/09/17/the-hard-truth-about-credit-counseling/ The Hard Truth about Money and Personal Finance Fri, 24 Feb 2012 15:57:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: gene http://toughmoneylove.com/2008/09/17/the-hard-truth-about-credit-counseling/comment-page-1/#comment-7686 gene Tue, 13 Apr 2010 13:04:12 +0000 http://toughmoneylove.com/?p=101#comment-7686 Your assessment is accurate. I've been working with small business/consumers for 20 years. There is no genuine relief once someone gets into trouble. Bankruptcy is a crummy expedient, needed at times, but I see many people filing just due to credit cards, often totally unnecessary. We have had much success using the court system, working out these claims over 2 to 4 years, getting clients to live on cash. It really does work. I like your writing and thanks. Your assessment is accurate.

I’ve been working with small business/consumers for 20 years. There is no genuine relief once someone gets into trouble. Bankruptcy is a crummy expedient, needed at times, but I see many people filing just due to credit cards, often totally unnecessary.

We have had much success using the court system, working out these claims over 2 to 4 years, getting clients to live on cash. It really does work.

I like your writing and thanks.

]]> By: Uncommonadvice http://toughmoneylove.com/2008/09/17/the-hard-truth-about-credit-counseling/comment-page-1/#comment-526 Uncommonadvice Thu, 18 Sep 2008 11:31:35 +0000 http://toughmoneylove.com/?p=101#comment-526 It's really amazing isn't it? In the UK I have had a lot of experience with an organisation called Gamcare who try to help people with a gambling addiction. Like the organisation you know of, Gamcare is actually funded by the Gambling Industry! Unlike Gamblers Anonymous they don't ask their people to abstain from gambling - funny that! It’s really amazing isn’t it? In the UK I have had a lot of experience with an organisation called Gamcare who try to help people with a gambling addiction. Like the organisation you know of, Gamcare is actually funded by the Gambling Industry! Unlike Gamblers Anonymous they don’t ask their people to abstain from gambling – funny that!

]]> By: Andrea http://toughmoneylove.com/2008/09/17/the-hard-truth-about-credit-counseling/comment-page-1/#comment-508 Andrea Wed, 17 Sep 2008 16:38:36 +0000 http://toughmoneylove.com/?p=101#comment-508 I've known that the big credit counseling agencies are credit card company lackeys Using the veil of being a non-profit is therefore shady, the implication clearly being that they are out to help you, the poor consumer. That in itself should send up big red flags for anyone considering their services. Beyond that I only know what I've tried to find out on my own and it boiled down to this: the standard answer was, "spend less and pay your bills," that it might be good for some people who have absolutely no understanding of the credit industry from a budgeting standpoint but would be of limited use to most (in my opinion), and that as you said, they definitely aren't going to tell you to cut up your cards. Also as you mentioned, though, it's better than these debt settlement companies. I don't want to totally plug my blog on yours so feel free to take out these links if you'd like, but a couple of posts - the first on the "how it works" aspect and the second on a flat out scam. http://www.foolsandsages.com/?p=89 http://www.foolsandsages.com/?p=88 I’ve known that the big credit counseling agencies are credit card company lackeys Using the veil of being a non-profit is therefore shady, the implication clearly being that they are out to help you, the poor consumer. That in itself should send up big red flags for anyone considering their services.

Beyond that I only know what I’ve tried to find out on my own and it boiled down to this: the standard answer was, “spend less and pay your bills,” that it might be good for some people who have absolutely no understanding of the credit industry from a budgeting standpoint but would be of limited use to most (in my opinion), and that as you said, they definitely aren’t going to tell you to cut up your cards.

Also as you mentioned, though, it’s better than these debt settlement companies. I don’t want to totally plug my blog on yours so feel free to take out these links if you’d like, but a couple of posts – the first on the “how it works” aspect and the second on a flat out scam.

http://www.foolsandsages.com/?p=89
http://www.foolsandsages.com/?p=88

]]> By: money management plans http://toughmoneylove.com/2008/09/17/the-hard-truth-about-credit-counseling/comment-page-1/#comment-507 money management plans Wed, 17 Sep 2008 15:58:02 +0000 http://toughmoneylove.com/?p=101#comment-507 Poor money management and credit go hand in hand. Many of the credit companies are non profit but the consumer seems to get lost in the message. Poor money management and credit go hand in hand. Many of the credit companies are non profit but the consumer seems to get lost in the message.

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