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Credit Counseling

NOTE: The Georgia Department of Banking and Finance does not regulate consumer credit counseling companies.

Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But beware — just because an organization says it is “nonprofit” doesn’t guarantee that its services are free or affordable, or that its services are legitimate. In fact, some credit counseling organizations charge high fees, some of which may be hidden, or urge consumers to make “voluntary” contributions that cause them to fall deeper into debt.  A reputable credit counseling agency should send you free information about itself and the services it provides without requiring you to provide any details about your situation. If a firm doesn’t do that, consider it a red flag and go elsewhere for help.

The National Foundation for Credit Counseling (NFCC) is a national nonprofit network designed to provide assistance to people dealing with stressful financial situations. Many NFCC members are known as Consumer Credit Counseling Service ® ("CCCS").  Each year, more than one million people receive counseling and educational services from NFCC member agencies.

Fiscal Fitness: Choosing a Credit Counselor (FTC)