Payday Loan Times

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Credit Counseling: An Alternative to Payday Loans

Filed under: Advice — J.J. Cameron at 12:00 pm on Tuesday, June 20, 2006

 Need a Credit Counseling Company?
Twice a month, the Northeastern Indiana Better Business Bureau pens a consumer advice column. This week's edition focused on a payday loan alternative: credit counseling agencies.

As gas prices continue to climb, groceries rise and interest rates creep up, some people are feeling the squeeze. They are probably considering the use of same day payday loans. The BBB, however, advises consumers who are sinking into debt to take proactive action by working with an experienced credit counseling organization instead.

Here's how it works: A trained and certified credit counselor will analyze your income, expenses and debts; discuss your current situation; and make recommendations to address your financial problems. It's easy to spend some time online researching your options and selecting a reputable agency.

Your goal should be to find a credit counseling agency that has satisfied clients, offers personalized service from trained counselors, can educate you how to make appropriate financial choices and will provide you with tools to achieve financial security. You may, of course, also ask these experts about their views on personal loans.

Check the agency out with the Better Business Bureau (, state attorney general and your local consumer protection agency. Any reputable credit counseling agency should send you free information about its services without requiring you to provide any details about your situation. If not, consider that a red flag and go elsewhere for help.

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