 TITLE: Tips for Choosing a Credit Counseling Agency CONTENT: How Much Does Credit Counseling Cost?\n-------------------------------------\nAre you worried about the prospect of going into even more debt to pay for credit counseling services? You'll be happy to know that many nonprofit credit counseling agencies offer helpful services at no charge. In fact, the first step of any credit counseling service is a free budget and debt counseling appointment. Your selected advisor will get information from you regarding your financial situation, explain your options for managing your debt, offer recommendations, and help you develop a plan to meet your goals.\nSome additional services may come with a fee, however. For example, you might decide to enroll in a debt management plan. With this arrangement, you make a single, recurring payment to the credit counseling agency. In turn, the agency makes monthly payments to each of your creditors (with whom they may negotiate reduced payments or interest charges). Typically these plans have an initial application fee and an additional monthly fee, which is either a fixed rate or a percentage of your debt. The industry average application fee is around $75, and a typical monthly cost might be between $25 and $55 per month.\nA word of caution: If a counseling service asks for payment before they've even met with you for an initial consultation, it could be a scam. No certified, nonprofit agencies found through FCAA or NFCC will require upfront payment before you meet.\nWith many certified nonprofit credit counseling agencies offering free initial consultations, there's not much downside to enlisting the help of a counselor other than a bit of your time. Understanding the services they offer and how they might be able to help you navigate your debt payments could be well worth it. END