Debt Settlement Consumers Beware of Fraudulent Claims

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The following statements are red flags that indicate fraudulent practices and dishonesty on the part of debt settlement companies. If a debt settlement makes any of the following claims, don’t do business with them. In fact, if you hear any of these statements from a company that claims to settle debts, you should report it to the Federal Trade Commission or FTC. Here are some examples of the fraudulent claims we have read:

1. “We are a government agency.”
2. “Our program is affiliated with the federal (or local) government.”
3. “Our debt settlement programs are affiliated with the Obama Economic Stimulus Plan.”
4. “We’re offering programs that are part of a consumer debt relief initiative.”
5. “Our debt settlement programs were created (or approved) by President Obama.”

Even though the Federal Trade Commission cracked down on debt settlement fraud in recent years, the bad guys are still out there. Make sure you know the facts. If you have any questions about an offer you’ve received or a claim you saw or heard, call The Debt Pro today at 1-888-420-4791. We’ll let you know if you are dealing with someone legitimate, and we can review your situation and advise you on the best course of action.

Photo on Flickr, Some rights reserved by renaissancechambara