Need Help Digging Out of Debt? What You Can Do

Beware of ‘debt relief’ services that sound too good to be true. There are other alternatives for helping you get a handle on your debt.

A couple go over their debt together while sitting at their table and looking at a laptop.
(Image credit: Getty Images)

We’ve all seen the TV commercials for companies that offer “debt relief” or “debt adjusting” services for people suffocating under the weight of crushing debt.

For consumers feeling like they are in over their heads, hearing the words “debt relief” can seem like the answer. But there is no such thing as a magic wand for making debt disappear. While debt settlement companies often advertise that they can negotiate with creditors to reduce the amount consumers owe, working with them carries potential long-term risks.

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David Kimball
CEO, Prosper

As Chief Executive Officer of Prosper Marketplace, David oversees the company’s vision, overall operations and performance. David joined the company in March 2016 as Chief Financial Officer and was named CEO in December 2016. David brings more than 20 years of financial management experience to this role. Prior to joining Prosper Marketplace, David served as Senior Financial Officer of USAA’s Chief Operating Office, where he oversaw USAA’s real estate unit, bank, P&C and life insurance companies, investment management company and the call centers/distribution functions.