If you have any credit cards or have had some in the past, it's almost inevitable that you've been asked if you'd like to sign up for debt cancellation or credit card insurance. The pitch sounds like a pretty good idea at first, usually going something like this: If you lose your job or the ability to pay your debts, your debt cancellation service will pick up your credit card tab and make your payments for you.
Obviously, you'll have to decide for yourself it that's a good idea or not. But if you want an opinion, I think it's a terrible waste of your money. I think you'd almost be better off burning your cash in a fireplace, because at least you'll get something out of it (warmth and it's always fun to watch the flames in a fireplace). Still, it's nice to have a second and even third opinion, so I spoke to two financial and credit experts, and they, too, didn't exactly have a ringing endorsement for debt cancellation or credit card insurance.