When it comes to credit card debt, there is a lot of wrong or confusing information that people hear. So here are 3 myths about debt reduction that consumers should no. First, non-profit debt relief or credit counseling programs are not all equal. And they do charge fees. Some are very good, and others are not. So do some research and don’t just think that non-profit means they are altruistic. Second, debt elimination programs don’t ruin your credit. Yes, it can lower your credit score. But if you have lots of debt, that also lowers your score, paying off your debt raises it. And if you already have late payments, don’t avoid getting help because you think perfect credit is more valuable than paying off debt. Third, credit card debt settlement is a scam. It is a real method for getting out of debt. But it is not right for every situation. And most people who claim it is a scam don’t understand how it really works and when it is the right method. So get some debt settlement advice and see if it is right for you.