So much for debt reduction!

Question: Suzanne and her husband went through a debt reduction company and have paid about $5,000 in the past year. The company has not paid anyone yet. They signed a power of attorney contract. Dave's opinion is strong.

Dave Ramsey's answer: This is absolute madness to give someone $5,000 and lose control of your life like this. Send them a letter saying that you will send no more money, and revoke all power of attorney privileges. Send a certified latter, return receipt requested. Get on a plan and call your creditors and start to work on this. You were trying to do something good and got ripped. There is NO REASON that this would take a year for them to do this job! You'll do a lot better taking this into your own hands.

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