Avoiding debt settlement scams

In recent months, many consumers have been facing an onslaught of debt and foreclosure, forcing them to make touch and sometimes rash decisions.

One of these can be rushing into offers by fraudulent debt settlement scams, which despite recent regulations may still be out there attempting to swindle consumers.

The Federal Trade Commission and Better Business Bureau saw an uptick in the number of complaints against these companies in recent months. Therefore, consumers may wish to examine some tips in order to avoid these scams, which could increase debt and keep them from saving money.

Some tips consumers can take in order to protect themselves are to properly access the company before signing up. By checking a company’s website and making sure it is accredited by a government agency or by the BBB, consumers may be able to prevent fraud.

Consumers may also be weary of upfront fees and requests for personal information, as recent legislation has been enacted to prevent this activity. Individuals can also read through terms and conditions in order to avoid hidden fees or ask a family friend for a referral if they have gone through a similar program.

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