There is a growing number of credit debt counseling services in this country today. That is a result of the growing financial recession along with the failing mortgage market. It's no surprise that with this growing opportunity comes increasing abuse. Sadly, there is currently no government regulation of these agencies, so it's up to the consumer to make sure they're dealing with a reputable service. Some can, indeed, teach you to live within a budget and begin to repay debt and restore your credit rating. Others may even be able to help you consolidate debt and lower interest rates. But no credit debt counseling services can reduce your interest rate 50% or more and settle a debt for less than the amount owed unless you have already missed several payments and your credit rating has crashed. Avoid those agencies that use TV ads or phone soliciting. Don't agree to high fees. Anything higher than approximately $20 is probably out of line. And don't trust a service that promises to "wipe out" your debt. You may need a lawyer to help sort through your options.