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Beware of Fraudulent Debt Settlement Offers in San Diego

Posted By || 2-Nov-2012

With the troubled economy, more and more of us are facing mounting debt we never imagined. Inevitably, debt relief companies have emerged to take advantage of financially distressed consumers. These companies falsely promise consumers that they can settle a consumer’s debts for pennies on the dollar or substantially reduce monthly payments through low interest rate consolidation loans. What they don’t tell you is that they can’t guarantee any results and your credit will probably be ruined in the process. Worse yet, a striking number of these companies turn out to be nothing more than scam artists.

The Federal Trade Commission (FTC) has been trying to crack down on debt settlement scams in recent years. In October, the FTC shut down yet another debt relief company that operated several high-profile websites such as LegitimateDebtSettlement.com, DebtReliefEmergency.com, CreditDebtSettlements.com, FreeDebtSettlementAdvice.com, FreeDebtConsolidationAdvice.org, and CreditCardDebtNegotiations.com, among others. After the FTC completed its investigation, a U.S. District Court in Ohio permanently banned the company from marketing, advertising, or otherwise engaging in debt relief services and ordered it to pay nearly $400,000 for its misdeeds. (You can access a PDF of the court order by clicking here.)

Here at Southbay Bankruptcy, we are dedicated to helping families who are struggling with their debts. Don’t be fooled by unrealistic offers made by debt settlement and debt consolidation companies. Instead, speak to an experienced San Diego bankruptcy attorney to find out how you can get real debt relief. We can go over the pros and cons of various options so you can be confident that whatever decision you make is the right one for you.

For a free consultation, contact the Denton Law Group. Call us at (619) 458-3739 and take the first step toward real debt relief.

Categories: General