Debt Management Scams ... Stay Away! Here's how they work.
Debt Management Plans.
Debt Consolidation Plans.
So far as I have seen in my practice, every single one of them is a scam.
Here's how they work:
You search the internet for help, facing multiple debts driving you to distraction. An ad or an email pops up: "Hey, you don't have to file bankruptcy to get out of debt! Click here to find out how!"
And boom. They're onto you.
They give you a long and complicated impressive looking sales pitch and contract. You pay several hundred dollars a month and they promise to use the money to pay your debts ... plus a few small fees for the service.
What could go wrong?
Good question! Here are a few:
1. They don't settle your debts and instead just keep your money with outrageous fees that eat up the money you have entrusted to them.
2. They don't settle your debts, you get sued and they promise to defend you in Court but don't ... and you end up with a judgment and a wage garnishment.
That latter is when victims run to bankruptcy attorneys, and then get to me to take a look at what drove the victim to finally seek bankruptcy advice who then turn to me to see whether there are claims against these companies.
And there almost always are because these companies are nearly always acting AGAINST your best interest.
So, Debt Management Plan something you are considering?
Just stay away. Find a different solution.
Public service tip of the day.
Get a free initial consultation with Josh: https://denbeauxlaw.com/contact-us/
Or you can email me directly at [email protected], or you can call/text me on my cell phone, (201) 970-6534.
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