Credit Card Counseling Services: For Profit or Non-Profit?
Pennsylvania is currently considering expanding the offerings from credit card counseling services allowed in the State of Pennsylvania. Nonprofit organizations run the show currently - but some are arguing to allow profit companies to step in and help consumers try to lower and reorganize their credit card debt.
Maryland is considering a similar proposal - but opponents there say for profit credit counselors are predators cashing in on the foreclosure crisis.
With fifty thousand people on debt management plans in Pennsylvania alone, its important that consumers are getting the best advice out there on lowering credit card debt. So what do you think? Should states like Pennsylvania maintain restrictions on credit card counseling or should it open up the field to give profit seeking organizations a shot?
Read more in the Pittsburgh Tribune-Review.
Update: the Pittsburgh Post-Gazette weighs in here.
