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Watch out for credit card debt relief scams

On Behalf of | Apr 16, 2019 | Credit Card Debt |

Job losses, medical emergencies, divorce and more can easily adversely affect the financial lives of Texas residents. Many turn to credit cards in order to keep up with necessities, but soon, those bills become overwhelming as well. By the time credit card debt reaches a critical point, consumers may begin looking for ways to rectify the situation, but they need to exercise caution when doing so.

Unscrupulous people will take advantage of consumers who find themselves in financial distress. When Texas residents begin searching for relief from their debts, they need to watch for the signs that something just is not right. This means doing some research, getting a second opinion and considering several options before choosing a debt relief option.

Some debt settlement companies will make promises they know they cannot deliver. As the saying goes, “if it sounds too good to be true, it probably is.” Moreover, companies that request payments up front are more than likely not legitimate. Charging fees prior to settling consumers’ debts is against the law and serves as a red flag. In some cases, simply doing an internet search and/or consulting with the Better Business Bureau can root out companies that are simply trying to take money from vulnerable people.

Not all debt settlement companies are illegitimate, but they may not address all of a consumer’s financial issues. More often than not, credit card debt is only a symptom of a much larger issue. Consulting with an experienced attorney could provide additional options that an individual would not have otherwise considered. With help, he or she could achieve the financial freedom needed in order to move into a more secure future.