financial scams

Debt Settlement Scam Tactics

We’ve all seen the ads on TV that promise financially struggling consumers they can be debt free in just a few months or after paying only pennies on the amount they owe. These spots are generally aired by for-profit debt settlement companies. If you’re in serious debt, why should you think twice before taking the easy way out?

1. Companies that make unrealistic claims rarely keep their promises.
2. Dishonest debt settlement businesses are likely to charge high upfront fees.
3. Consumers who sign up for these services may end up in worse financial shape than they were before.

ALL these statements are true. If you’re in trouble, consider getting free, confidential credit counseling from a reputable nonprofit agency like Guidewell Financial Solutions instead. A certified counselor can help you review all the available debt repayment options. If you enroll in a debt management plan, you’ll receive support and gain skills to use the rest of your life.