![]() ![]() Only use legitimate and trusted companies, such as those we list above.So how can you protect yourself when looking for credit relief services? The FTC have brought scores of law enforcement actions against these scam companies and partnered with state law enforcement to bring them down, even changing the law in 2010 to stop all for-profit companies charging up front for credit relief or repair services.īut the issue continues and we receive a number of reports every month from consumers who are still facing robocalls, hard selling tactics and false claims. The scammer doesn’t provide the service advertised and the victim is left even further in debt and traumatized by the crime. ![]() Yes they may need to borrow some more money to pay the scammer be it from a relative or a high interest loans company, but the promise of freedom from that debt can make it seem like a good investment.Īnd of course as the FTC reports – by then it’s too late. When a cold caller offers to get rid of all their debt for only $1450 up front – and they may owe $20k or $30k, the temptation is easy to understand. This level of desperation can easily make people susceptible to scammer’s lies and when the promise of a quick solution is offered, desperation can cloud a victim’s judgement making them less likely to look deeper into what’s being proposed. Debt relief scams are among the worst of all scams we report on because they target people who are already in an incredibly difficult financial position, emotionally exhausted and desperate for a way out. ![]()
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