I drive an 06 Dodge Stratus sedan. I just recently purchased some 20" rims for it. Well after the people at the rim shop put them on I drove off and onto the freeway. I started smelling burnt rubber so I turned around and went back. It turned out to be that the bolt on the shock absorber, at least thats what I think it is, was actually rubbing right against the tire. Well they did the cheap fix and grinded the bolt down so now theres about 1/4" space between the tire and bolt. I took it on another drive down the freeway a few days later and now everytime I hit a hard bump both the front and rear tires seem to grind. My question is what is a good fix to this problem? Ive asked around work and some people suggest wheel spacers and others suggest shock clamps. What should I do?

 

Raise and tighten the suspension, put even lower profile tires on those bad boys (if you even can), or return the 20's and get rims that fit better.
Tirerack.com recommends nothing larger than 18" rims for your make/year car.

FWIW, shock clamps will greatly reduce the amount of travel in your shocks, which will also make for a heck of a rough riding car, to the point it my no longer be enjoyable to drive.
Spacers will move the wheels out, which is helpful if you're not clearing your brake calipers, or if your wheels are now too _wide_ for the wells.