For consumers managing credit card debt, here’s how to research options and avoid promises that may not deliver – like someone claiming to repair bad credit overnight.
DIGGING OUT OF DEBT
The Texas Office of the Consumer Credit Commissioner regulates some debt management companies doing business with Texans.
Christine Graham, director of consumer protection at the Texas OCCC, explains that there are two basic sets of providers required to register with the state: consumer credit counseling services and debt negotiators.
There are debt counselors who can help consumers work with creditors to lower interest rates and fees, bring accounts current, and make a plan to repay debt. Often, these are…