The axiom, “If it sounds too good to be true, it probably is!” remains an enduring and unassailable truth. But during the stubbornly long-running downturn, desperate people suspend disbelief. Number 4 on this list caught our eye today as we see clients all the time who fall victim to debt reduction or debt consolidation scams. Get Out Of Debt Now It’s not just the government that has debt issues many Americans are carrying debt that can take decades to pay off. So an opportunity to help consolidate, renegotiate and reduce those debts would seem worth the initial fee that many debt-consolidation scammers require. But as with most recession scams, the up-front fee is a red flag. Once debt-relief scam artists get that fee, most don’t negotiate with creditors at all. The same new FTC rule that prohibits up-front fees for mortgage modification bans them for debt-reduction services, which is good…
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The Federal Trade Commission cracked the whip of justice mightily this past Thursday in announcing fines and restitution totaling $44 million against two debt relief organizations that were using automatic dialers to solicit consumers. The two groups b Advanced Management Services NW LLC and Dynamic Financial Group, and their various operating units and DBAs – not only ran a fraudulent service, which saw none of their customers get the debt relief they were promised, but they also committed the sin of using auto dialers to call numbers that were on the Do-Not-Call list. Read entire story here
The Show Me state has told a Florida debt settlement company to not show its face within its borders in the future. Under a court judgment, Vortex Debt Group will no longer accept any business from Missourians and will refund fees paid by Missouri consumers who submit complaints to the Missouri Attorney General’s Office within one year. Missouri Attorney General Chris Koster filed the complaint against the company, accusing it of engaging in deceptive and unfair practices by promising to reduce consumers’ debt. First, says Koster, the company took significant fees from consumers in exchange for this claimed service, and failed to actually reduce consumers’ debts. “This often left consumers with more debt and less money,” Koster said. Are you considering a debt settlement company? Think again. Filing bankruptcy can provide you with immediate relief. Neil Sader and The Sader Law Firm have more than 30 years of combined experience…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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