Be Kind To Debt Counselors

Thanks to Consumerist for pointing out a story on CNN about how debt counselors are getting slammed in the subprime meltdown.

“I don’t think people fully appreciate the pressure that’s being put on those counselor organizations today,” says a Housing and Urban Development official. In addition to offering financial advice, the counselors try to help negotiate payment plans with lenders, stave off foreclosure notices, and even offer mental health support for people so distraught that they become depressed or suicidal. The average pay: $30-50,000 a year.

If you’re facing foreclosure and working with a debt counselor, please be very very patient. They are trying to help and the last thing they want to do is screw you over or screw up; so if they slip up, be patient and work with them – it’s in your own best interest.