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by: Bargain Babe
What to do when debt overwhelms you
The Money blog at Consumer Reports recently shared info about what to do when you get too deep into debt.
“Credit counselors help people develop a strategy for paying back their debt,” the post says. “Debt-settlement firms, on the other hand, negotiate with creditors to settle the debt for a portion of the amount owed.”
If you cannot work it out yourself, they recommend you work with a reputable nonprofit credit-counseling company. Read all their tips.