Latest Ask The Experts Posts
On The Money Latest Posts
Text Size 
On The Money Host
Are there ANY credit repair companies that are legit? I’ve used a couple and both times they have been scams. I obviously won’t do it again but people should be aware if they are all trying to rip you off!! – Daniel, NY
Daniel – you’re right! People should be aware that there is NO such thing as “debt repair” and the services that promise this are not legit. There are only a couple of legitimate things you can do with your debt besides paying it down: You can consolidate your debts into one, fixed-rate (hopefully lower) loan and you can settle your debts though it greatly damages your credit.
To do either, you do not need the services of any company. If you do need help with dealing with your debts and you’re just overwhelmed, stressed and confused, find a non-profit (only!) credit counselor near you through the NFCC.org. They charge a small fee but they are not making a profit off of you – they are really there to help.
 |
>>Read previous Ask The Expert posts
>>Question for our experts? Email them here
Carmen Wong Ulrich is the host of On The Money
Don't miss more expert advice every night on the show
Data is a real-time snapshot *Data is delayed at least 15 minutes