Credit Counseling or Debt Settlement?

You’ve seen the ads: Credit counseling companies say they can help by getting your payments and interest rates lowered.  Others claim they can get your debts wiped out entirely by settling them for pennies on the dollar.

In this short (1:31) video, Money reporter Stacy Johnson takes an inside look at these companies, and what you should consider before turning to a credit counselor or debt settlement company.

Please leave us any comment or opinion you have about credit counselors or debt settlement companies.  We welcome your views.  Don’t worry, your email address (although needed for your to post a comment) never gets published here… so your identity is completely protected.  We’d love to get your feedback on this topic, or the video.