If the debt you hold is high interest credit card debt and you think you can pay it off quickly you might want to consider a balance transfer credit card balance transfer credit cards typically have introductory interest rates as low as 0 which could save you money in the long run. Debt relief service scams target consumers with significant credit card debt by falsely promising to negotiate with their creditors to settle or otherwise reduce consumers repayment obligations these operations often charge cash strapped consumers a large up front fee but then fail to help them . The victims of these scams fell deeper in debt and suffered a rise in interest rates as well as other penalties and damage to their credit some people even went bankrupt after being misled by these fraudulent companies in addition by hiding behind supposed non profit status these organizations called numbers on the national do not call registry to advertise their services. How to avoid credit card scams as you can see credit card scams range from petty theft to calculated criminal activity some deceptive practices require the unwitting participation of consumers there might be sophisticated technology or there could be a compelling pitch which is designed to fool a victim. You could talk to your credit card company yourself about a repayment plan you do not need to pay a company to create a repayment plan for you if a debt relief company tells you to pay before it does any work for you its a scam if you send your money to a debt settlement company instead of your credit card company you are taking a risk
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