Watch out for Fraudulent Help with your Debt and Credit Problems.

One one page of one paper recently I saw three ads for credit repair of one kind or another. Headlines were:

1. “Do you have too much debt?….. we may be able to negotiate significant reductions with your creditors….”

2. “Buried in Credit Card Debt?…We can save you thousands of dollars”

3. “Settle IRS Back Taxes for less than what you owe…”

We are very skeptical of these claims. So is the FTC. We have two suggestions:

If your debts are not too extensive and you can afford to pay them over a reasonable period of time, try Consumer Credit Counseling Service, a non profit national agency that we have used before and have some faith in.

For more information about dept management plans, click here

Otherwise, talk to a bankruptcy lawyer BEFORE you ever answer one of these ads that sounds too good to be true. Usually they are.

For more information on bankruptcy, click here.

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