Government Help For People With Credit Problems?

The government does not actively provide assistance for people with credit problems through a bureau or department. However, the government does grant non-profit status to certain credit agencies, and they can help you reduce your credit debt as well as provide debt counseling and management services to help you change your spending habits in the future.

You can get many different kinds of credit help from credit agencies, including debt consolidation programs. When a non-profit agency steps in to assist you with your debt, they can often negotiate lower interest rates or repayment terms with your credit card company than you would be able to get on your own. Your debt counselor can help you develop a plan to be debt free within three to five years.

When looking for a credit agency to help you, make sure that you do your homework. Shop around and compare services. Make sure you choose an agency with responsive counselors who can respond to your questions. Understand that your credit rating may still be affected, but not as badly as if you spend months not being able to pay your credit card payments, pay them late, or are forced to file bankruptcy.

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