Relief pitchers5 of 8The offense: debt relief rip-offs. Sinking in debt can cause consumers to panic. And that's perhaps why they are increasingly complaining about debt-relief scams that do little but can cost a lot. There are legitimate operators in this field, but you need to know how to tell the difference.The defense: Don't pay upfront. During the depths of the recession, some debt relief services would directly contact consumers. But starting Oct. 27, 2010 debt relief agencies that call you or invite you to call them can't charge a fee until they have actually resolved the debt. "This is huge" for consumers, says Susswein.Also, remember that there are credible people who can help you with debt relief. So go with established players. One safe bet is finding a nonprofit agency affiliated with the National Foundation for Credit Counseling. Its website can help you find a counselor. Another resource is the Association of Independent Consumer Credit Counseling Agencies. Related Articles:Fighting debt collection8 do's for fighting foreclosureCredit repair checklistPayday lending stand-insRelated Links:10 credit counseling tipsBump up your credit scoreNeed overdraft protectionAvoid credit repair scams advertisement
The offense: debt relief rip-offs. Sinking in debt can cause consumers to panic. And that's perhaps why they are increasingly complaining about debt-relief scams that do little but can cost a lot. There are legitimate operators in this field, but you need to know how to tell the difference.
The defense: Don't pay upfront. During the depths of the recession, some debt relief services would directly contact consumers. But starting Oct. 27, 2010 debt relief agencies that call you or invite you to call them can't charge a fee until they have actually resolved the debt. "This is huge" for consumers, says Susswein.
Also, remember that there are credible people who can help you with debt relief. So go with established players. One safe bet is finding a nonprofit agency affiliated with the National Foundation for Credit Counseling. Its website can help you find a counselor. Another resource is the Association of Independent Consumer Credit Counseling Agencies.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.