Management of Credit Card Debt Isn't As Easy As It Seems, is It?

A Credit Article Contributed by Mark Mcclelland

Credit Card Debt Management is a Skill That Needs to Be Learned

Although you may not think so, one of the benefits of having to work with a debt consolidation agency is that they'll help you lean appropriate management skills in order to control your credit card debt. It's surely the hard way to learn, but often it's the only way for thousands and thousands of consumers every year, as they turn to these agencies to help them stabilize their financial lives.

It's truly is a sad state of affairs when some of the finest educational institutions in the world won't take the time to teach our most vulnerable citizens - our kids - fundamental money management skills. And believe you me, this isn't something we're born with...it's something that has to be taught. While it could be taught as part of our children's formal educational curricula, more often than not it's learned in the school of hard knocks.

So How Does One Go about Acquiring Some Credit Card and Debt Management Skills?

There are actually an abundance of sources where you can learn how to manage credit cards and debt: continuing education classes at your local community college, YMCAs and YWCAs often give classes and seminars on these topics, and charitable and business organizations that do the same are but a few of the "organized" educational opportunities. Then, of course there's the on-line community. The Internet has, if nothing else, revolutionized the way we get and distribute information.

You can find anything your want, including the kitchen sink, on the Internet. Simply type in "credit card debt management education" and you'll get ... let's see, on 11/30/2004, 1,710,000 references. To be sure, probably 99 99% of those don't really have anything to do with the actual topic at hand, but that's an indication of just how much is out there.

Another really good source of basic information concerning debt management and your credit cards in available from Uncle Sam himself. Believe it not, the FTC web site at www.ftc.gov is overflowing with good information. Type in "credit cards" in the little search box at the top of the screen, and one of the listings that's displayed will send you to their consumer oriented web site concerning credit and credit cards: www.ftc.gov/bcp/conline/edcams/credit/. Type in "debt management" instead and you'll see a listing for the National foundation for Consumer Credit.

Credit Card and Debt Management According to the National Umbrella Organizations

There are two national umbrella organizations set up to monitor the "credit repair" industry that includes virtually everything than has to do with debt consolidation, management, negotiation, credit monitoring, repair, improvement, etc. These are the Association of Independent Consumer Credit Counseling Agencies, and the National Foundation for Credit Counseling.

The National Foundation for Credit Counseling works closely with the FTC to set the national standards for credit counseling, debt reduction services, and education for consumer's financial wellbeing. The NFCC members are commonly referred to as Consumer Credit Counseling Service (CCCS), and most state have a chapter.

The Association of Independent Consumer Credit Counseling Agencies (AICCCA) is also a national membership organization, and was established to promote quality and consistent delivery of credit counseling services as well. This association is consensus driven, establishing agreement among professionals regarding service standards and professional industry conduct, as well as by establishing and maintaining strong relationships with credit management professionals and consumers.