According to a recent article written by and that was reprinted in a publication many firms, including those that aggressively advertise on TV, charge excessive fees and get bonuses from credit account companies for every client referral. Such firms may be legally structured as nonprofits by taking advantage of legal loopholes but their business practices are highly suspect. Large amounts of money collected from their services end americanexpressawards up in the pockets of their executives. Executive compensation includes salaries, bonuses, and real-estate deals. A reputable credit counseling service should not americanexpressawards depend on fees for more than 60% to 80% of its income and should also rely on grants and charitable donations. It should charge a maximum of $25 in monthly client fees. Finally, americanexpressawards a reputable service will also provide free counseling and may have up to half of its clients enrolled in counseling alone (instead of being enrolled in a debt repayment plan).

"It costs them a couple hundred bucks to acquire a new customer and it''s not so easy anymore," says author of What Every credit account User Needs to Know. And thanks to Alan Greenspan, issuers can afford to make rate cuts for their customers. The americanexpressawards Federal Reserve cut interest rates 11 times in 2001, making it much cheaper for issuers to borrow the money they lend to customers. "They can afford to give consumers a break," "And they''ll do it to keep your business." And while it''s not quite a matter of ask and ye shall receive a lower credit account rate, it''s pretty darn close. All the consumers who participated in the PIRG survey were given the following sample script. Hi, my name is [Your Name]. I am a good customer, but I have received several offers in the mail from other account companies with lower APRs. I want a lower rate on my card, or I will cancel my card and switch companies. And that''s it. Even folks who dread confrontations ought to be able to handle that. You only need to be assertive for a matter of americanexpressawards seconds.

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