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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.
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.
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...
Jan 31, 2024 · Be aware of scams, debt relief downside. Debt relief through bankruptcy. Debt relief through a debt management plan. Debt relief through debt settlement. Do-it-yourself debt relief. What not to...
Mar 8, 2024 · March 8, 2024. Are you looking for ways to pay off credit card debt? Offers to help you cut down or wipe out your debt might sound like a perfect solution, but dishonest debt relief companies will take your money and do little or nothing to help. So how do you get real help and skip the scammers?
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.
May 3, 2023 · The FTC recently announced settlements with the operators of a deceptive debt relief scam. The FTC sued the three operators and their related companies (which went by multiple names including ACRO Services) for taking tens of millions of dollars from people by falsely promising to eliminate or reduce their credit card debt.
