Americans who once thought that open lines of credit were as good as money in the bank have been getting some rude awakenings. Applications for emergency lines of credit for medical bills are going up, while credit card companies are shrinking available credit limits, even for their best customers. Many of us may seek help from credit counseling agencies or from debt consolidation firms. However, it’s easy for scam artists or fly-by-night operations to set up shop long enough to rob you of your cash. Be wary when a prospective debt consolidation firm shows any of these ten warning signs.
About Joe Taylor Jr.
Joe Taylor Jr. has written about media, technology, entertainment, and personal finance for over 25 years. His work has been featured on NPR, CNBC, Financial Times Television, and ABC News. After helping to launch one of public radio's first successful digital platforms, Joe now serves as a customer service, communications, and user experience consultant for a variety of Fortune 500 and Inc. 500 companies.