- Consumers with hefty debt loads or lower credit scores are targets for debt relief and credit card scams.
- If someone reaches out to you regarding your debt or requests upfront payment to find relief, it’s likely a scam.
- You can protect yourself from scams by educating yourself on laws telemarketers must adhere to and by doing your research to find legitimate debt relief options.
- Be sure to consult with a qualified credit counselor or a reputable debt relief company if you need assistance managing your debts.
If you are struggling to pay off debts such as credit card debt, auto loans or student loans, you may be looking for ways to lower your debt. If so, you’re not alone. Total household debt in the U.S. rose to $17.06 trillion in the second quarter of 2023. Yet, it’s important to be careful when you receive enticing debt relief offers from solicitors.
Debt relief and credit scammers target individuals with large amounts of debt or low credit scores. Signing up for a debt relief service without doing your research can lead to more money lost and an even worse credit score if you’re not careful.
When you are looking for help managing debt, talk to a qualified credit counselor. Know the signs of a credit scam and research any debt relief company before you start working with them.
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