In the 1960s, a number of national nonprofit organizations were established in the United States to assist consumers who were facing financial crises and help them avoid bankruptcy. However, by the early 2000s, a wave of financial industry deregulation, paired with a precipitous rise in personal credit card debt, led to the development of the debt settlement industry. The early successes of a few key players in the field led to an influx of less experienced debt settlement companies. With the advent of the economic crisis of 2008, the field was saturated with unscrupulous firms and many fly-by-night companies. In many states, Better Business Bureau complaints about debt settlement scams have multiplied exponentially. This has prompted many state legislatures to adopt tougher regulations. In a few states, for-profit debt management has been rendered illegal. Most personal finance experts warn against signing on with a debt settlement company, but if you do opt to establish a relationship with a provider in the field, it is important to conduct research beforehand to assess their trustworthiness.