Debt management firms must be regulated like other financial services – The Canberra Times

Debt management or “credit repair” services can make some alluring promises to those with financial problems. They say they can silence the phone, turn away the debt collectors, wipe away black marks from your credit record – and make those money woes go away.

But so often these promises are not met. In too many cases, people in financial trouble can end up in an even worse position after paying hundreds of dollars to these operators for very little, if anything, in return.