If there’s one thing synonymous with debt relief in this country, it’s scams. For a while, it wasn’t clear whether it was trendy or proper to blanket the entire scope of debt relief as an illegitimate industry. While online consensus about debt relief is still very much mixed, the overarching question becomes: if debt relief has such a bad reputation, why do so many providers exist?

As the case with many things, the proof just may be in the pudding. Let’s look at what debt relief providers offer and why they make sense for certain debtors.

Not All Debt Relief Is Debt Settlement

Before we jump into why debt settlement providers exist, it’s important to make the distinction that debt relief and debt settlement aren’t necessarily the same thing. Debt relief is an umbrella term that includes debt settlement — but it can also include debt consolidation and debt management, either through a company or on a DIY basis. Many of the negative online opinions relate to debt settlement scams specifically, and not these other areas of debt relief. Continue reading →