What Deadbeats?

The highest estimate of consumers being able to make repayments under a credit-counseling DMP was 5 percent, with the low being in the 1 to 2 percent range, according to the report.

"The masses of expected deadbeats who were supposed to be identified under the new law and forced into debt management plans have not materialized," the association's report concludes.

Only about one in five (21 percent) of those seen by a credit-counseling firm was identified as racking up debt due to "circumstances within their control." In many of those cases, people said they didn't fully appreciate how credit card fees and finance charges could put them deeper and deeper into debt.

Okay, if you must, call the latter folks deadbeats. It's hardly a revelation that if you buy something on credit and you don't pay the bill off the next month, you're going to be charged interest. With the low minimum payments required, it's easy to amass a lot of debt over time. We all know this.

But I do sympathize with people who experience a major disruption to their income or become financially ruined by uncovered health care costs (a growing and disturbing trend in America). It is for these people we have bankruptcy protection.

There is at least something good to come out of the new law. If you're looking for a reputable credit-counseling agency -- even if you aren't filing for bankruptcy -- I'd suggest you choose one now certified by the Trustee program. At least then you'll have less chance of dealing with a deadbeat agency.

To find an agency on the list, go to http://www.usdoj.gov/ . In the search field type "approved credit counseling agencies."

· On the air: Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and online athttp://www.npr.org.

· By mail: Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

· By e-mail:singletarym@washpost.com.

Comments and questions are welcome, but because of the volume of mail, personal responses are not always possible. Please note that comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated.