Q: I’m thinking about doing a debt repair or debt relief plan. Should I?!

A: Be careful. Some programs help, but many do more harm than good. Watch out for:

•  Credit damage – Some ask you to stop payments, wrecking your credit score.
•  Tax bills – Forgiven debt may be taxable.
•  High fees – Many charge upfront but deliver little.
•  False promises – No one can erase accurate negative items from your credit report.

Legit programs share these traits:

•  Nonprofit or accredited – Look for agencies certified by groups like the National Foundation for Credit Counseling (NFCC) or Financial Counseling Association of America (FCAA).
•  Focus on education – Help you build lasting habits, not just quick fixes.
•  Transparent – No upfront fees or bold promises.
•  You stay involved – Full control and clear communication throughout.

Bottom line: Real credit repair takes time and solid advice—not shortcuts. Talk to a nonprofit credit counselor or financial pro before signing anything.

Any questions? I’m Vincent Hicks, a CPA based in the Cambridge–Somerville area. Reach out at vhicksconnect@gmail.com or (859) 553-0788.

Disclaimer: This column provides general financial information and should not be considered legal, investment, or tax advice. Always consult a qualified professional for personal guidance.