Credit Counseling Agencies

NPR's Snigdha Prakash reports on credit counseling agencies and why they're worried about declining payments from banks. The agencies work with consumers who have unmanageable debt, getting banks to lower interest rates and cancel late fees. They're usually paid a percentage of the debt by the bank, but now the banks want to lower that payment. The agencies say that's irresponsible, the banks say the situation is getting out of hand, with more credit counselors than ever.

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