There are
many debt reduction companies online that charge excessive fees and can also leave you with worse credit history than you started out with.
This latest BBB warning is not the first indication of a scam either; for instance, the Federal Trade Commission just issued a fine to
several debt reduction companies operated by an individual from Florida.
Debt settlement companies have also been the focus of a consumer alert from the Financial Consumer Agency of Canada (FCAC), which warns consumers to beware of «too good to be true» offers
from debt reduction companies.
Just make sure before you settle on
a debt reduction company, that you choose a reputable lender that will be honest with you.
Make sure you choose
a debt reduction company that is reputable.
The other exception comes in the form of special debt management or
debt reduction companies, which arrange to stretch debt settlement plans out of a period of one to four years.
Our debt reduction company is committed to helping you find the path to debt freedom.
Another great resource for consumer protection information is the Financial Consumer Agency of Canada's article «
Debt reduction companies: Beware of too good to be true offers».