As the ship sinks and the rats swim, you may need some pointers to guide you through the tricky task of finding a viable and respectable credit counseling service. With the economy teetering on the brink if another cliched collapse, it may behoove those of you (like me) who are in financial trouble, to be of good cheer. As everyone in the financial sector runs for their lives, finding reputable help could be difficult.

Various consumer groups and reporting agencies have testified to the fact that more and more alleged credit-counseling companies are taking the money and running. Alarmingly, there is an ever-increasing trend in the financial aid industry towards abuse. This is unforgivable in an industry that has seen billion of dollars exchange hands, all the while, the poor consumer is bilked out of his honest attempt to make good on a debt.

First and foremost, stay away from any credit-counseling agency that has not been in business for at least 8 years. Companies who have been in business this long have extensive track records that are accountable. Being so long in the tooth means that company is professionally run and generally accountable to its customers.

Be sure to verify the professional accreditation of each consumer credit counseling service on your list. Look for agencies that have been formally accredited by either the Council on Accreditation (COA) or the International Standards Organization (ISO). You should always be sure that the consumer credit counseling service you choose has a current accreditation with these organizations — this cannot be stressed enough. Some services may have been accredited in the past, but are now operating now on a expired certificate.

Finally, be sure to to look into whether or not the Better Business Bureau and your State’s Attorney General’s Office has your service of choice on file. You are looking for any complaints against the agency and the nature of the complaints. You might be astonished by what you uncover with these simple checks. Many disreputable credit counseling agencies remain in business, even after many complaints have been lodged against them. Take the time to check each one out thoroughly before choosing one and paying them for their services.