Let's talk a little bit about that nasty d word...debt. Some of you may already be in it and the rest of you may be scared of it. A lot of times when people get deep in debt they feel like there is no way out. Thus, they turn to "debt settlement" companies in hopes that they can work something out with the credit card company to where they would only have to pay a fraction of what they owe.
This is not a common outcome. You need to be very careful when it comes to dealing with these "debt settlement" companies. Even if, by some miracle, they get it to where you are paying a fraction of what you really owe...you still have to pay them for their services (which usually costs a pretty penny).
The FTC (Federal Trade Commission) says that when you're in debt and hopeless...do not give up. They advise you to contact your credit card company. Sometimes all it takes is a little persistence to get in contact with the right person. They also advise you to contact a credit advisor who can steer you in the right direction toward free classes and workshops on setting a budget, managing your money...and much more.
You can read more about this topic at the FTC's website where you will learn more about the right way to go about settling your debt. They also talk about red flags to be aware of when looking for a company to help settle your debt if that is the route you take.
If you're in debt do not give up hope. There is always light at the end of the tunnel. It will not be an easy task to dig yourself out of debt but it is definitely possible!
Keep your chin up and have a fantastic Thursday!