Many borrowers who resort to debt relief to pay down debt find that the program works only while they are in the program. As soon as the program is over, however, old habits surface and debt increases again. Sometimes the process of paying off all of one's debt is the best learning process, as opposed to finding the "easy" way out.

On the Other: Any Help Is Good Help

Any change or modification in behavior, especially in relation to debt, can help a borrower create long-term planning and goals to decrease and eliminate debt. With the proper management of debt relief, a borrower can use it to eliminate debt faster and meet his or her goals sooner. Borrowers should, however, make sure they are working with a reputable debt-relief organization. Many debt-relief agencies have been accused of charging high fees and failing to fulfill promises.

Bottom Line

Assuming debtors are dealing with a legitimate organization, debt relief is going to work if the borrower uses it as a tool, not a crutch. Significant life changes will have to be made for a borrower to break the cycle of debt and start saving, instead of spending. If debt relief allows a borrower to do so, it is a good thing. If not, its just another expensive lesson for the borrower to learn.

Source:

MoneyCentral.MSN.com: Your 3 Worst Debt Consolidation Moves

FTC.gov: Knee Deep in Debt

MSNBC.MSN.com: Don't Fall for Debt Relief Scams