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Looking for credit or debt help before student loan repayments restart? BBB recommends slowing down and finding a reputable company

Many of the services offered by credit and debt assistance companies can be done by consumers themselves. However, difficulty understanding their options, lack of know-how or a time crunch and other issues can lead some consumers to seek assistance. Here are some key terms and services to know when researching options.


Debt relief has been a cornerstone of the Biden Administration dating back to when the President ran for office in 2019 and 2020 as millions of Americans struggle with debt.

According to a new report from the Better Business Bureau, many debt relief and repair companies don’t live up to their promises.
Earlier this year the US Supreme Court struck down the Biden Administration student loan forgiveness plan citing Executive overreach.

If enacted it would have helped more than 40 million borrowers to qualify for student debt relief. Nearly 90% of the benefits of the relief going to out-of-school borrowers would go to those earning less than $75,000 per year.
Interest on student loans resumed September 1 with payments sent to resume in a matter of weeks after an over three-year pause due to the COVID pandemic.
Tens of millions of Americans continue to struggle with debt, whether consumer or student. According to a recent analysis by the Better Business Bureau companies that promise some form of relief often don’t live up to their advertisements.
“BBB has received over 11,000 complaints, almost 1,000 negative reviews about debt and credit assistance companies and it reveals a pattern of misleading, sometimes fraudulent claims especially it seems among a group of companies located in the American southwest," said Pamela Hernandez with the BBB of Springfield.
Hernandez says that if you have questions about your debt or want to see your credit history or scores, you're entitled to a free credit report annually. Visitannualcreditreport.com for more information.
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Looking for credit or debt help before student loan repayments restart? BBB recommends slowing down and finding a reputable company

Fred Fletcher-Fierro