Are Debt Consolidation Companies Trustworthy?

July 15, 2010 8:47 pm admin Reference and Education

If you are considering Debt Consolidation to help save money, you may be afraid that the company you go to will be fly by night, taking your payments and ruining your credit.  There is a very simple way to determine which companies want to help you, and which only want to help their bank account.  Many reputable debt reduction services are non-profit; the fees they charge go to paying their overhead.  If you are still nervous, consider an alternative to using a debt reduction company, such as a dedicated loan or line of credit from your bank or credit union.