by 
The Curious Bag
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<h4 class="dechead">On One Hand: Debt Consolidation
One legitimate debt relief program is a debt consolidation loan. Those who take out consolidation loans are able to make regular payments to the consolidation company. This allows those in debt to manage their finances more easily by simply having one debt payment instead of several. Interest payments can also be reduced.
On the Other: Debt Relief Scams
Many debt relief programs do not have the ability to relieve consumer debt. They lie about their abilities to lower interest rates and then charge consumers fees for their consultation. Oftentimes, they even lie about the fee they are charging, telling the customer that they will lower interest rates for free.
Bottom Line
Check with an attorney to find out whether or not the debt relief program is legitimate. Check with the Better Business Bureau, your state's attorney general and the consumer protection agency as well.
Source:
MSNBC.MSN.com" Don't Fall for Debt Relief Scams
All Things Frugal: What is Debt Consolidation and Can It Benefit Me?
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