The Importance of Identifying a Legit Debt Counselor

Feeling like your debt counselor just doesn’t know what he/she is talking about? Perhaps what they’re saying to you don’t make any sense or they can’t seem to present you with a valid solution to solving your debt problems.

How do you notice a debt counselor is incompetent or dismiss them in a proper manner?

Well, you can start by filling out a complaint form, referred to as complaint form 29, on the NCR website and launch a complaint about the debt counselor. Some people find it quite difficult to do so, but at the end of the day, it is in your best interest to find somebody to represent your debt problem, and perhaps even prevent others from being scammed by the same individual or firm.

Identifying a real debt counselor

It’s quite simple.

There are a couple of things you must notice to ensure your debt counselor is completely legit and they are as follow:

  • 5 Days after you have filed a debt review application, as the consumer and it, has been assessed and accepted, your notice must be forwarded to all creditors you owe money to.
  • The debt counselor must serve your application to your creditors as soon as its filed.
  • 5 Days after the debt counselor has sent the 17.1, the 17.2 notice of acceptance must follow and be sent to all your creditors.
  • Your processed payment plan must be sent to your creditors within 60 working days.
  • Within the period of 60 working days, a notice of action should be served regarding all your creditors, by the lawyer representing you as the consumer, as well as the debt counselor.
  • A court order may be granted by the court, should all the information be completed and you as the debt counselor have finalized a repayment plan.
  • It’s important to also check that your payment agent distributes money according to your court order and is moving forward with the process while obliging to the law accordingly. If you ever suspect your debt counselor is not making proper payments to your creditors, you should report them immediately.

Read more on what is a debt counselor?

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