Report: Real debt consolidation help could take some digging

Legitimate debt consolidation and consumer credit counseling firms can be a huge help to U.S. consumers struggling to deal with mounting debt, but it can take some careful research to find the very best ones, according to the Wall Street Journal.

The Journal says that those who are trying to get out from under more than one debt at the same time are the best candidates for nonprofit debt settlement firms. According to the report, consumers should check to make sure that the firm they choose is accredited by U.S. Trustee, which handles the vetting of such companies for the major credit card issuers.

"If your adult children or other relatives are struggling with too much debt – or headed that way – you’ll want them to be aware of the high costs and pitfalls of the slick promises of debt relief they hear on radio and television," the Journal advises.

Other experts have said that paying particularly close attention to one’s credit report can also be a helpful tool for continued financial health.