Don’t Get Scammed!

Thursday Oct 26th, 2017


Just because a debt negotiation company calls itself a “nonprofit” is no guarantee that it’s a legitimate organization.  If you’re in debt and seeking the help of a debt negotiation company, the Federal Trade Commission says that you should watch out for the following scams – debt negotiation companies that:

· Guarantee they can remove your unsecured debt.

· Promise that unsecured debt can be paid off with pennies on the dollar.

· Claim that using their system will allow you to avoid bankruptcy.

· Require substantial monthly service fees.

· Demand payment of a percentage of savings.

· Tell you to stop making payments to or communicating with your creditors.

· Require you to make monthly payments to them, rather than to your creditors.

· Claim that creditors never sue consumers for nonpayment or unsecured debt.

· Promise that using their system will have no negative impact on your credit report.

· Claim that they can remove accurate negative information from your credit report.


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