Avoid fad diets
Juice Plus, Herbalife, anything that mentions toxins and cleansing that will cost you additional money to a simple well balanced diet. You can lose weight on ANY diet but doing it the correct way through exercise and nutrition will maximize your chances of that weight staying off permanently.
Seek advice from a professional
Preferably someone very experienced in building muscle and who understands nutrition well. A personal trainer who has competed in bodybuilding will know the ins and outs and guide you through this minefield. For example, did you know one of the best ways to torch fat is to build muscle? Did you know that just doing endless cardio is not the best way to burn fat?
Don't expect a quick fix
Be prepared to put in months of hard work if you want long term and sustainable results.