Does credit counseling really work?

    Published: 06-16-2009
    Views: 10,835
    Mortgage Consultant Markita Aldridge discusses the value of credit counseling.

    Host: Does credit counseling really work?

    Markita Aldridge: Yes, credit counseling does work, you just have to be very careful again with the companies that you choose, we always recommend that you go to the better business bureau or look on the federal trade commissions webpage to see if these companies are reputable. What happens with credit counseling, you can not do the same thing yourself, they basically negotiate payments on your behalf to be made to your creditors and the reason why it is very successful is that the creditors actually are the companies that pay for credit counseling. So, they are actually the bankers of credit counseling because they feel like it is better to give some money paid back versus none at all.