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Credit card debt-settlement services are risky and could affect your credit score

Saturday, February 23, 2019
Gregory Bresiger | New York Post

You’re hopelessly in credit card debt and considering bankruptcy.

Wait — you don’t have to pay it all back, a television announcer claims.

There’s “a secret that the credit card companies don’t want you to know.” This “secret” will wipe out card debts for a fraction of what you owe, promises the ad, which is for CreditAssociates, a credit card settlement company.

“On average, we save our clients in excess of 55 percent of what they otherwise would owe,” CreditAssociates Executive VP Rick Burton told The Post.

But critics question some debt-settlement services and their methods.