How the scam works:
(with video below) You are tens of thousands of dollars in debt and you see no easy way out. But as you're surfing online, you see light at the end of the tunnel. An advertisement claims it can get you out of the red for much less than your actual debt. How does the scam work?
Watch the video below to see the Debt Relief Company Scam, exposed:
You pay a $4,000 flat charge to enter the program and you'll be laughing all the way to the bank–rather than crying. There's only one problem: there's no such program, and now you have that much more to repay. Even worse, you've been ignoring creditors during this time, expecting the program to kick in. You're in it even worse.
How to avoid the Debt Relief Company scam:
Ignore the offer, as tempting as it sounds. Scam artists rely on desperation, and sadly, they usually leave people even more desperate. You can try consolidating your debt or renegotiating with your credit card companies using better offers as leverage. There are also plenty of financial blogs out there that can help you dig your way out of debt slowly. But anyone claiming to have all the answers for you is usually full of something other than answers.
How to report the Debt Relief Company scam:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
How to protect yourself more:
If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.
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