How to Choose the Best Consumer Credit Counseling Service

John Oghe

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If you are looking for a Minnesota consumer credit counseling service, you should look for a company that has a local office and is licensed to do business in Minnesota. It is also helpful if the company has a Minnesota license. A good choice is Money Management International. A debt management company can help you negotiate with creditors and make payments on your behalf. To choose the best consumer credit counseling service in Minnesota, look for a company that has an office in your area and is licensed by the state.
  • Money Management International​

The nonprofit Money Management International provides high-quality consumer education, debt management assistance and community-wide educational programs to individuals and families. Counselors review budgets and help clients develop plans to live within their means. Consumers can participate in online educational programs or attend a brick-and-mortar location. The organization also offers free post-disaster coaching. To learn more, visit the MMI website. Here's a breakdown of its various programs.

Money Management International has a decent reputation, but some customers have expressed frustration over its practices. Although the company faced a class action lawsuit in 2010, these complaints have been resolved. Overall, the company has earned a high rating from past customers and is considered a solid choice. However, it has several negative reviews because of its past mismanagement of customer funds. Although the company has a high customer satisfaction rate, its fees are not entirely transparent. This may make it difficult for people to choose it.

One way to avoid filing for bankruptcy is to get financial assistance through a consumer credit counseling service. Money Management International offers free, one-on-one credit counseling. These counselors will evaluate your financial situation and develop a personalized action plan for you. If you are unable to pay off your debt on your own, you can apply for a debt management plan through the Money Management International website. However, before you enroll, be sure to read the privacy policy.
  • Cambridge Credit Counseling Corp.​

Cambridge Credit Counseling Agency is a full-service, 501(c)(3) nonprofit credit counseling agency founded in 1996. Its programs range from debt management and financial literacy to first-time homebuyer programs and foreclosure-avoidance counseling. The agency also offers debtor education programs, as well as debt counseling for federal student loans. These services are available to a diverse group of clients, including individuals, families, and business owners.

Besides offering debt consultations and debt management plans, Cambridge offers bankruptcy counseling certificates, debt settlement, student loan counseling, and foreclosure intervention. Their credit counselors offer free consultations and hundreds of resources. The company is accredited by the Better Business Bureau (BBB) and Consumer Affairs. It also offers debt management services, which consolidate your debt and negotiate lower interest rates. However, you should not expect instant relief from your debt. You need to be willing to make consistent payments on time.

A reputable credit counseling agency, Cambridge Credit Counseling Corp., has a history of providing financial education to consumers since 1996. Their debt management plan is accredited by the Better Business Bureau and has an A+ rating with Consumer Affairs. The fee structure of Cambridge Credit Counseling Corp. is determined by your state, but fees are generally less than $75. A member of the National Foundation for Credit Counseling and the Financial Counseling Association of America, Cambridge Credit Counseling has been around for 19 years.

In addition to debt management, Cambridge provides educational debt management plans to help consumers establish a manageable repayment plan. This helps consumers pay their debts on time and conveniently. The company performs a thorough assessment of a consumer's financial status and makes a recommended course of action. After the assessment, Cambridge Credit Counseling Corp. will help consumers develop a repayment plan that suits their individual situation. The company also responds quickly to debt collectors and wins court cases.
 
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