Debt Elimination: Beware of Scams
Unless you’ve been living under a rock for the past few years, or unless you simply tune out everything you hear that is debt related, you have undoubtedly seen, read, and/or heard advertisements promising you seemingly great, easy ways to eliminate your debt.
Those of you who are pretty cynical probably think that most of these ads promising to eliminate debt are too good to be true and are likely out right scams. Still others of you, particularly those who are struggling with debt and desperate for a little help, are probably filled with curiousity or optimism upon hearing these ads.
Unfortunately for most of us, the “debt help” industry has exploded in recent years into a huge and very profitable market for companies offering up debt “solutions.” Please note the quotes around the terms debt help and solutions, they are there for a reason.
The truth is that there are legitimate companies that can and will help consumers to get out of debt faster and for less money than they could on their own. However, these days it seems these companies are few and far between, often lost in the barrage of advertisements from companies profiting from the exploitation of these consumers.
We will be posting about legitimate programs and services for people in need of debt help soon. But for today, we will be focusing on companies and programs who will scam you while promising to eliminate your debt.
