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Dec 6, 2023 · Quick Answer. Some debt relief companies are scams, and even the legit ones are risky and expensive. Some creditors refuse to work with debt relief companies, and even when it’s successful, debt relief can do major harm to your credit and raise your income tax bill.
Jul 16, 2021 · Debt relief service scams target consumers with significant credit card debt by falsely promising to negotiate with their creditors to settle or otherwise reduce consumers' repayment obligations.
Jun 16, 2017 · If a debt relief company tells you to pay before it does any work for you, it's a scam. If you send your money to a debt settlement company instead of your credit card company, you are taking a risk. The payment might not get to your credit card company on time.
Feb 15, 2019 · When debt seems like a hole you’ll never climb out of, a phone call, email, website or ad promising to settle your liabilities for pennies on the dollar can be awfully tempting. But proceed with care: Some debt relief offers are scams that will dig you in even deeper.
Debt relief scammers steal money and sensitive information by offering vulnerable consumers precisely what they want—quick, guaranteed relief from debt—and they’re relentless in spreading their message.
Mar 8, 2024 · Learn to spot scammy debt relief companies that make all kinds of promises to get your money upfront: Never pay anyone who tries to collect fees from you before they do anything to help you deal with your debt. That’s illegal.
Jun 7, 2024 · Unfortunately, debt relief scams are rampant. Scammers exploit debtors’ vulnerability by offering false promises of quick and easy solutions, such as debt consolidation loans with...
Feb 20, 2024 · An emergency debt relief program could help, whether it's debt consolidation, debt management, debt settlement, or credit counseling. Learn how they each work and which is right for you.
May 3, 2023 · Follow these steps to spot and avoid credit card debt relief scams. Don’t pay upfront. It’s illegal for a debt relief company to charge you a fee before they do anything to relieve your debt. Talk with your credit card company. For free. Call the customer service number on the back of your credit card. Ask for a payment plan that you’ll ...
Aug 28, 2023 · Debt settlement companies, also sometimes called "debt relief" or "debt adjusting" companies, often claim they can negotiate with your creditors to reduce the amount you owe. Consider all of your options, including working with a nonprofit credit counselor and negotiating directly with the creditor or debt collector yourself.
