Debt Repair Scams: What You Can Do when You’re Victimized
People nowadays are losing money and property not just because of the recession, but also because of the countless debt repair scams that promise to help them clear their credit histories. Many of these scammers usually go the online route, sending emails to individuals advertising their capabilities. However, bad points in your credit history cannot be legally removed immediately, leading to fraud and even federal or criminal charges. If you’ve been victimized by any of these scammers, you’ve just lost a lot of money that could have helped rebuild your finances if it were used in the right way.
Dealing with having been victimized by debt repair scammers
Report to the state attorney general
If you have been victimized by such an agency, don’t hesitate to contact the proper authorities. A State Attorney General or the local consumer affairs office can help you file a case against these agencies so you can recover your money and stop them from victimizing others. However, state laws regarding debt repair vary so it’s best to have a lawyer specializing in such cases to assist you.
Report to the Federal Trade Commission
The Federal Trade Commission can also help you recover if you’ve been victimized by credit repair scam agencies. Aside from filing a federal case against these scammers, you can also learn a lot about guidelines, rules, and other topics to help you recover financially.
However, the best way to get out of debt repair scams is to not get into any in the first place. Learn to spot scammers by their advertisements. If their claim is too good to be true, it probably is. Check with the FTC or with your local consumers’ office if these credit repair companies are accredited as well. You can also visit online forums to see which agencies receive the best ratings from consumers.
Photo Credit : jepoirrier
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