What are debt settlement scams? A debt settlement scam occurs when a company solicits your money for debt relief services that they never intended to provide. In most cases, they'll offer to negotiate with your creditors on your behalf, just like a real debt relief firm would. Then they'...
"Debt relief scams are low-hanging fruit for financial predators. Desperate consumers in financial distress are easy targets for high-pressure sales pitches that promise guaranteed results as long you pay a hefty upfront fee. If you, a friend or a family member are contacted by a debt relief...
It may not work: Creditors and lenders aren't obligated to work with debt settlement companies and could deny the proposed settlement offers. The author’s expert insights "Debt relief scams are low-hanging fruit for financial predators. Desperate consumers in financial distress are easy targets ...
"Companies offering to relieve them of that stress come out of the woodwork, but not all of those have good intentions." Are you looking for ways to tackle your debt? We asked some experts for ways to avoid debt relief scams along the way. Start by exploring some top debt relief ...
Individuals can attempt to negotiate on their own or with the help of a reputable debt relief company. This is an area that's rife with scams, so they should make sure they know whom they're involving. Investopedia publishes a regularly updated list of the best debt relief companies. ...
Those already seeking credit and debt relief are at a greater risk of falling victim to scams where fraudsters offer to negotiate lower debt payments or consolidate loans, the BBB said. That's because fraudulent schemes appear incredibly similar to legal debt and credit assistance companies. Nearly...
Individuals can attempt to negotiate on their own or with the help of a reputable debt relief company. This is an area that's rife with scams, so they should make sure they know whom they're involving. Investopedia publishes a regularly updated list of the best debt relief companies. ...
Debt Relief Firms Tricked Students into High Fees, CFPB SaysWASHINGTON - The Consumer Financial Protection Bureau took action Thursday against two companies for allegedly running "scams" that promised relief for struggling student loan borrowers.Witkowski, Rachel...
And, while there are plenty of legitimate debt relief services, it's also important to be cognizant of the potential for scams. After all, those looking for debt relief may be eager to get help, making them easy targets for scammers. But what if you're struggling to make your payments...
Protect yourself by learning to recognize the signs of debt settlement scams. If you have overwhelming debt, take the time tocompare multiple debt relief companiesto find the best solution for your situation. How Much Does a Debt Settlement Program Cost?