Q&A: Are there reliable debt consolidation organizations?

Consumer Reports News: April 03, 2013 12:08 PM

Q: I need information or reviews about trustworthy debt consolidators. Can you point me in the right direction? —J.L., via e-mail

A: Your best bet is a nonprofit credit counseling
agency that's approved by the federal government. A good way to find one is by going to the Justice Department website and clicking on Credit Counseling & Debtor Education for a list of approved agencies by state. You're smart to seek advice. Unscrupulous debt consolidators have been preying on people trying to recover from the economic downturn.

We've outlined some of the problems with the debt-collection industry. For more help on managing your debt, check out these helpful tips from our money experts.

E-mail Newsletters

FREE e-mail Newsletters! Choose from cars, safety, health, and more!
Already signed-up?
Manage your newsletters here too.

Money News


Cars Build & Buy Car Buying Service
Save thousands off MSRP with upfront dealer pricing information and a transparent car buying experience.

See your savings


Mobile Get Ratings on the go and compare
while you shop

Learn more