If your in debt with no place to turn you may be considering the advice of just about anybody in order to get out from under it.  However this may be hurting you worse than if you would have not listened to certain peoples advice.

In this article I’m going to talk about 3 place you should not go for financial advice on how to get out of debt.

Family & Friends

The first place you should avoid is your family and friends.  The reason I suggest this is because a lot of times people that are close to you may usually be in the same financial situations as you, and a lot times these people themselves have no idea how to get good debt relief help.

On top of that you will also want to avoid taking personal loans from friends and  family members since things are tough for you and if you can’t pay back the loan to a friend of family member it may cause a strain on your relationship.

Cash Advance Solutions

The next place you need to avoid is cash advance businesses.  Getting an advance on your paycheck will not solve your problems it will only delay the inevitable.

In the worst situation it could end up causing you to continually take out loans with them in order keep your debts paid.  On top of that you have to factor in the huge interest rates these companies will charge.  Some cash advance places will charge as high as 800%!  You’ll never be able to keep that debt under control.

Debt Negotiation Companies

Finally, there’s debt negotiation companies, this is actually one of the worst debt relief options to consider.  A lot of times these companies try to make things look really good in their advertisements claiming they can cut up to 50% of your debt off by negotiating lower payoffs with your creditors.

The truth is they will just rip you off.  The average debt company will charge around a 17% fee for the total amount of debt you add to the program.  If you had $30,000 dollar of debt you would be looking at $5100 in fees!  As you can tell if you had that much money you would just pay the debt off yourself.