Want to get rid of debt? Plenty of places claim to be able to help, but how do you know who to trust?
Frank in Waddell let Joe know he wants to consolidate but gets so many offers in the mail he doesn't "want to get duped."
The Arizona Department of Financial Institutions regulates debt management companies.
They'll typically look at your finances and offer some guidance.
Some like Take Charge America are non-profits that offer a free debt counseling session. But can charge for certain services like debt management plans.
However, any requests for upfront payment or guarantees of erasing your debt are likely scams.
Look for counselors that are apart of a group like the Financial Counseling Association of Americaor National Foundation of Credit Counselors. They hold members to higher ethical and regulatory standards.
Finally, check the company's reputation with the Better Business Bureau and Attorney General. Also look for any actions against them in other states.
Remember you can do some consolidation yourself with low-interest personal loans or zero balance transfers through a credit card.
