In today's buy-now, pay-later society, many Americans know what it means to be nearly drowning in debt.
And as the fierce waters continue to pull them deeper and deeper into the red, many are looking for a quick way out.
Some will grab on to the first lifeline they see -- in some cases, debt-settling firms that promise to erase most or even all of their debt.
But not all lifelines are as dependable as they seem.
Credit card debt
Consumer credit card debt has almost tripled since 1989 and increased 31 percent since 2000, according to research released last fall by Demos and the Center for Responsible Lending.
"Things have really changed in our society," said Annie Edwards, branch manager and accredited financial counselor for Pioneer Credit Counseling, 524 E. McKinley Ave., Mishawaka.
