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Video: David Lazarus on debt help you don't need

January 24, 2011 |  4:16 pm


Be wary of any company that wants to charge recurring fees to help lower the amount of money you owe, consumer columnist David Lazarus says. And be especially careful when that company explicitly says it will do virtually nothing to assist you.

Case in point: Debt Wise, a product from Equifax, one of the three leading credit reporting bureaus. Debt Wise's brochure says, in small print, "Equifax will not negotiate on your behalf with your lenders and creditors to obtain new or different loan or credit terms for you to eliminate, reduce or settle your debts."

Why pay a recurring fee when you can organize your own debts, free?

Read more in David's column: Pay off debts without adding extra costs.

Related columns from David Lazarus:

Simple BofA refi turns into foreclosure nightmare

Collecting debts from the dead

-- Pat Benson