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Jun 8, 2022 · Lead Stories has debunked a similarly misleading ad before. The claim appeared in a video posted to Facebook on May 24, 2022. The video was titled "Over 10k in debts can now be erased!" The caption reads: I just got $21,389 in debts removed from my credit reports thanks to the new Debt Relief Program the USA just approved.
Feb 15, 2019 · Report debt relief scams to the Federal Trade Commission, online or at 800-382-4357. The FTC and the U.S. Consumer Financial Protection Bureau offer background and advice on debt settlement, credit counseling and other ways to get out from under your financial liabilities. Be wary of debt settlement companies that promise to slash your debt ...
- Prepared Statement of the FTC on Repair Restrictions Before the Committee on Business Affairs & Labor in the Colorado General Assembly (February 28, 2024 )
- Veterans Consumer Protection: Preventing Financial Exploitation of Veterans and Their Benefits (April 19, 2023 )
- Protecting Military Servicemembers and Veterans from Financial Scams and Fraud: Prepared Statement of the Federal Trade Commission Before the House Subcommittee on National Security (July 13, 2022 )
- Stopping COVID-19 Fraud and Price Gouging (February 1, 2022 )
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Oct 3, 2023 · A Facebook video claims to show a family receiving word their debt has been resolved through the "American Debt Relief Program," which purportedly aids American citizens and legal residents who ...
- How Debt Collection Works
- Examples of Harassment and Unethical Behavior by Debt Collectors
- Types of Debt Collectors
- Debt Collection Protections For Seniors
- Know Your Rights Against Debt Collection
- How to Manage and Respond to Debt Collection
- Get Help with Debt Collection
A creditor can start contacting you about an overdue payment as soon as it is late. The contact may be a phone call, email, or letter. It’s usually polite, maybe even asking if you forgot to pay. They’ll often give you a few ways to make the payment (phone, online, mailing a check). The longer a debt is unpaid, the less friendly and polite, and mor...
Debt collectors have one job, and that’s to make you pay the money they believe you owe. This focus can lead to aggressive tactics, some of which are legal, but others that aren’t and comprise harassment and unethical behavior. Some debt collectors even go after people for money they do not owe. Some harassment and unethical behavior is unique to e...
“Debt collector” is a catch-all phrase that can cover any person or business attempting to collect an unpaid debt. The type of debt collector is contacting you may be an indicator of how seriously your debt is being taken, and how aggressive the collection effort will be. A business or individual whose sole purpose is to collect money, and only get...
Because senior consumers are often targets of financial fraud, and also may be financially vulnerable in many ways, there are debt collection protection laws aimed at tactics that target seniors. Some of the legal ways seniors are protected from unfair debt collection are: 1. Debt collectors can’t garnish income from retirement accounts, Social Sec...
All consumers, regardless of age, are protected from unfair debt collection practices by the Fair Debt Collections Practices Act (FDCPA). The FDCPA, passed by Congress in 1978, specifies consumer rights against debt collectors. It includes how and when debt collectors may contact people who owe money, what they can and can’t say, what information t...
There are ways to respond to debt collection that will protect you. You shouldn’t ignore debt collector’s attempts to contact you. It’s important to respond in an informed and safe way. Everyone’s situation is different, so while some of these apply to you, others may not.
The best debt protection for seniors is you. You must be your own best resource and find a way to get your finances in order that makes it possible to pay off the debt you owe. Imagine the relief you’ll feel once you have that weight off your shoulders. A nonprofit credit counselor, trained to address debt relief for seniors, can be the support you...
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.
- Jim Akin
One 2019 report found that debt (any type) carried by people age 65+ jumped from $7,500 in 1989 to more than $31,000 in 2016. 2. Low-income older adults are at especially high risk of having higher “ debt stress ,” or the ratio of debt to assets.
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related to: debt relief programs scams for seniors videos$15K-$125,000. Enroll Qualifying Debt Into Consolidation Reset Plan (Any Credit Accepted). See If You Qualify. Start Easy Request Online. Discover The Payment Options Available.
