Avoiding Debt Consolidation Scams

Any Gun Can Play is a lesser-known western film involving three characters who betray one another repeatedly in a search for gold. This storyline might sound familiar because the same thing happens in The Good, the Bad, and the Ugly. Do you know which is the copycat and which is the original? In lending, too, it's often hard to tell. The lending industry has been known to attract some unsavory copycats--folks who'll take advantage of desperate, stressed out borrowers. As you hit the streets looking for a lender or credit counseling agency, be aware that not every organization is on the level. Take these common sense steps to protect yourself:

• Shop around.
• Ask lots of questions.
• Request all proposals in writing.
• Check the Better Business Bureau for possible complaints.
• Be suspicious of quick-fix plans.

Although the rough and rowdy days of the Old West have long passed, you still have to watch for outlaws. Ultimately, you can avoid scams and overcome your debt problems by understanding your options, adjusting your spending, making regular debt payments, and swearing off credit card purchases for good. If you make these choices, you'll be proud to wear prudence as a badge of honor.