Debt Assistance

Written by Abby Luttrell
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The thing to remember when you're looking for debt assistance is to avoid scams. It's easy to be taken advantage of. Many unscrupulous lenders and con artists will offer "free" money, questionable schemes and costly services.

They may be preying on you because they know you are emotionally fragile. Probably you've spent months trying to cut costs, worrying about how to pay the bills, and being in crisis. Your concern for your family and your future may have created terrible stress.

Your Family's Security

A responsible debt assistance plan will allow you to let go of your stress. A certified credit advisor will create your debt consolidation plan to safeguard the future of your family. A recommended credit counseling service will contact your creditors and reduce your monthly payments, reduce your interest rates, and plan a payment plan that you can actually stick to, given your present income.

One thing to watch out for in debt assistance scams is a large prepayment or advance fee before any services are rendered. Another red flag is any debt assistance counseling which advises you to get a new Employer Identification Number (EIN). You don't want to create a new credit identity to avoid a bad credit rating. This is called "file segregation" and you may be charged with a federal crime if you go along with it.

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