It's easy to run up a large balance on credit cards if you're a business owner, and soon you may find yourself in need of a credit card debt consultant to help you pay off the balance. The benefit of using one of these credit counseling organizations is that it tries to get you to pay less interest than the credit card companies and without you incurring late fees.

Don't feel like contacting a credit card debt consultant means you're a failure. Think of it as a way to stop the bleeding, allowing your business to get back on its feet and thrive. Before you start dealing with a credit counseling service, consider the following:

1. Locate a certified credit counseling organization to help you eliminate debt.

2. Shop around for a nonprofit consumer credit counseling program or service that caters to small businesses as well.

3. Search out local, in-person credit card debt counseling offices.

Action Steps
The best contacts and resources to help you get it done

Find a credit card debt consultant to start to eliminate debt

Most debt consultant organizations offer a free, no-obligation session to assess your current financial situation. If you decide to do business with them, don't be surprised to find the companies receive a fee of some sort. Simply avoid any upfront fees.

I recommend: Obtain a free consultation from Corporate Turnaround, which helps small businesses get out of debt quickly and efficiently. Debt Consolidation Care is a privately-owned organization, which means it isn't affiliated with any creditors like many debt management companies. Money Management International offers personal credit counselors with whom you can connect with online or via telephone seven days per week.

Discover a nonprofit consumer credit counseling service that works with business owners

Technically, to categorize itself with a nonprofit status, credit counseling services must offer education and counseling services. Oftentimes, some of these companies claim to be nonprofit but aren't. Be aware that simply because the company is listed as a nonprofit, there's no guarantee that the service is free or even legitimate. Most not-for-profit consumer credit counseling services help small business owners; don't be afraid to ask before you decide to work with them.

I recommend: American Consumer Credit Counseling can help you gain control of your finances with education and counseling. GreenPath Debt Solutions is a nonprofit organization that offers assistance through many types of consumer debt, including self-employed or small business owners.

Locate credit counselor organizations through local affiliates

Occasionally it may be best to talk to a counselor face-to-face. It's relatively simple to locate an organization to help you, whether it's through a university, military base, credit union or your financial institution. Many times these local affiliates can educate you further with courses or classes to prevent you from ending up in debt again.

I recommend: The Financial Planning Association can help you find a financial planner to assist you in paying your debts. The National Foundation for Credit Counseling provides a member agency locator that you can use to help find a local counselor. You can choose to find someone to do your business with over the phone, Internet or in-person.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Before you agree to work with any credit counseling service, check with the Better Business Bureau to see if there are any complaints against the agency. You could also check with the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling.
• •  Once you start a payment plan, check with your credit card company or creditors to make sure your credit counseling agency is paying the bills for you on time.
• •  Keep in mind that some creditors label debts differently. Some credit card companies give different or no concessions for business card accounts. Make sure to discuss this with your credit card debt counseling services when you contact them initially.