The Downsides of Debt Relief

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February 22, 2008 LITTLE ROCK Consumer debt has increased at a staggering pace in recent years. In 2007, the number of Americans filing for bankruptcy jumped by 40 percent, with more than 800,000 individuals seeking relief through bankruptcy last year alone. As debt continues to burden more and more Americans, debt relief services seem more and more attractive to consumers looking to regain some financial security. However, many of these companies simply make promises that they cannot keep, costing consumers more money up front without any savings in the long-run. Thus, Attorney General Dustin McDaniel issued this consumer alert to caution Arkansans about debt relief companies. Debt can sometimes be overwhelming