Debt settlement programs often ask — or encourage — you to stop sending payments directly to your creditors. That means late fees and penalties may grow, put you further in the hole, and hurt your credit. Creditors might start debt collection.

Are you looking for ways to pay off credit card debt? Offers to help you cut down or wipe out your debt might sound like a perfect solution, but dishonest debt relief companies will take your money and do little or nothing to help. So how do you get real help and skip the scammers?

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Are you looking for ways to pay off credit card debt? Offers to help you cut down or wipe out your debt might sound like a perfect solution, but dishonest debt relief companies will take your money and do little or nothing to help. So how do you get real help and skip the scammers?

Jun 16, 2017 · If a debt relief company tells you to pay before it does any work for you, it's a scam. If you send your money to a debt settlement company instead of your credit card company, you are taking a risk. The payment might not get to your credit card company on time.

Some scammy debt relief companies promise to get you a lower credit card interest rate, claiming they can save you thousands of dollars.

Related Consumer Alerts: Pay your student loans — not scammers; Don’t pay for help with your federal student loans; Did you hear the SCOTUS decision on student loan debt relief? So did scammers. FTC halts two student loan debt relief schemes; Videos: Avoiding Student Loan Debt; Student Loan Debt Relief Scams; PowerPoint Presentations:

Mar 8, 2024 · If you’re already behind on your bills, don’t wait. Call your creditors and explain your situation before a debt collector gets involved. Try to work out a payment plan with lower, more manageable payments. Learn to spot scammy debt relief companies that make all kinds of promises to get your money upfront:

Jul 1, 2024 · Some student loan debt relief companies will lie and say they’re affiliated with the Department of Education when they’re not. They want their bogus claims of “guaranteed” loan forgiveness (for a fee) to seem more legitimate (they’re not).

May 3, 2023 · Follow these steps to spot and avoid credit card debt relief scams. Don’t pay upfront. It’s illegal for a debt relief company to charge you a fee before they do anything to relieve your debt. Talk with your credit card company. For free. Call the customer service number on the back of your credit card.