For credit counseling, choose a counselor that works only for you, not a third party.
If you are going to credit counseling as a result of filing for bankruptcy protection, you need to choose an independent individual who will be working for you, and who has no affiliations with banks or other lending institutions. You might wonder how you would do that or how would you compare them?
The first thing you need to determine is who is responsible for paying them. Do they work for you? Do they work for the bank where you have a loan? Do they work for a credit card company? The answers to these questions are important, mainly because you want someone that is 100 percent advocating for you as opposed to someone who is working on behalf of the people that loaned you money.
Good, independent choices for credit counseling may run the gamut from an attorney that specializes in that area to an accountant with extensive experience in dealing with bankruptcies. It could also be an individual who may work for a credit reporting company, or a business that helps people work through their financial issues. If at any time you are uncertain about how to find a credit counselor that is not affiliated with a lending institution, ask your Iowa bankruptcy lawyer for suggestions.
If you discover that the person or company you want to deal with has ties to a lending institution, bank, credit union, or credit card company, then you can expect they are not working in your favor. They may look like they offer good service and advice, and in fact may do a good job, but their real reason for helping you is likely to get as much money back from you as possible. They may even be free, which is tempting when you have very little money to go around.
Opt for the independent credit counselors, whose only job is to help you deal with the difficult situation you find yourself in. At any point during the process of filing for bankruptcy protection, it is smart to keep asking questions about what is happening, what is next, what documents are required, and what to expect when things are said and done. Your Iowa bankruptcy attorney will guide you step-by-step through the maze of rules and regulations. You just have to ask for help.