Learning to Avoid Scams That Claim to Eliminate Debt

A recent letter to the editor in the in the Daily Mail’s Money section, has shown that some companies which offer to help get debt written off are actually operating as scams. In one instance, a British woman was approached and offered the chance to have her debts cleared through having them written off. In this case, the debts were in the form of credit card balances and the individual offering to help the woman claimed that they could all be removed if he was paid a fee.

After paying more than £5,000 to have this credit card debt cleared for her, the woman’s primary contact with the alleged scammers began to refuse to respond to her phone calls and emails. This is said by consumer financial experts to be a common type of scam and is generally able to fly because those in debt desperately seek a solution. Believing that they can not receive help any other way, they fall victim to large promises and impractical solutions. In fact, the “solution” the woman was sold on was actually that her case would be passed on to a company that seeks out loopholes to have her credit card debt written off. This questionable type of approach is not generally going to work and, even if it does, tends not to work towards the debtor’s best interest.

A far easier route that actually gets results and is a respected way to handle debts is to enter into a real arrangement with the creditors. This is what Debt Management is all about and it can certainly make life considerably easier for those who choose this route. If you would like to learn more about how Debt Management can help you, please examine the sites to the right which are legitimate debt help firms we have provided links to as a neutral source of information for those in debt.