Clark is being asked often lately about “debt consolidation” or “debt representation” firms. They all have fancy names, but they do the same thing. They claim they can take your debt and reduce it, as long as you pay them a fee up front. In reality, they are disasters for your wallet. And some are crooked. They are rogue businesses that take you for all you’re worth, even if you don’t have debt. They take money from people will similar or the same names, and it could happen to you. So, if you are contacted by a collector saying you owe money, you must ask for proof of the debt. If they are legitimate, they will send you the 5-day proof letter that they are required by law to send in the mail. So, even if you legitimately owe a debt, never give your checking account number over the phone. Make sure you send a check, and never post date it. Be on your guard.