Experts warn of debt relief program pitfalls
Why “quick fix” debt relief programs may not be as helpful as they seem
Published: Jan. 23, 2024 at 12:52 PM EST
(InvestigateTV) — The U.S. Federal Reserve estimates Americans are currently carrying more credit card debt than ever before.
Overall, the agency found that in late 2023, people had more than $1 trillion in debt, which is the highest the agency has seen since it started monitoring the numbers in 1999.
The weight of these credit card sums and mortgages has some people considering use of services that promise to reduce or relieve the burden, but experts such as those at the Better Business Bureau warn many of these companies may not be trustworthy.
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