Debt Settlement Traps!
Authored By: Consumer Action
Contents
Link: consumerfed.org
Information
What you need to know about Debt Settlement companies:
- Most debt settlement companies charge regardless of whether they ever settle your debts.
- Debt settlement services don’t provide instant relief.
- Debt settlement services can be very expensive.
- Claims for success rates can be very misleading.
- Debt settlement programs don’t stop debt collection.
How to get Real Debt Relief:
- Try to resolve debt problems with your creditors first.
- Contact a nonprofit credit counseling service.
- Know your rights.
- Read the fine print.
- Take immediate action if you can’t make your mortgage or car payments.
- Consider bankruptcy.
Click the link above for more information on each of these points.
Last Review and Update: Feb 27, 2024