Jaclyn Allen is a Denver7 Weekend Anchor and Contact7 Reporter.
It's not like Randy Prade of Aurora was irresponsible with his money. His credit card debt went up after his TV repair business went under.'We had 25 employees, and we chose to maintain their payroll much longer than we should have,' said Prade. 'It's a big, heavy weight when you go to sleep at night. You're worried about how you're going to be able to make ends meet.'He's far from alone.
While there are legitimate debt settlement companies, the Federal Trade Commission has issued warnings about debt relief scams taking people's money and never paying off their balances.Prade did his research and went with credit counseling. MMI negotiated lower interest rates and a lower payment.After 5 years, Prade paid off about $79,000 in debt and improved his credit score by about 150 points. The key, Prade said, is making a plan and sticking with it.
Contact7 Credit Card Crisis Credit Card Debt Credit Card Debt Scams
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