What You Need To Know About Credit Card Debt Relief Scams

In today’s fast-paced modern world, scams have become rampant. It’s easier than ever for scammers to get ahold of your personal information, credit card details, and more. It’s vital to be well-informed and understand how to keep yourself safe from scams that try to access your credit card information. While a service offering to help you with credit card debt may seem like a dream come true, you should always be aware of potential red flags before agreeing to anything.

Asking for Upfront Payments is a Red Flag

Credit card debt can easily get out of hand. Understandably, people strapped with significant debt want an easier way out. Many of the biggest scammers know this and will promise assistance for a “small” upfront fee for their services. However, anyone asking you to pay for credit card debt relief beforehand should set off warning bells. It is illegal for a debt relief service to ask its customers for payments before their services begin. These companies can only legally require payment after they have taken some action.

Many of these scammers offering debt relief target those with high credit card debt, seeking to capitalize on desperation and get people to send them money.

Don’t Fall for the Scammer’s Sweet Talk

When a debt relief scam has you on the line, they’ll often say anything to keep you interested in their service. Heavily scrutinize claims like guaranteed debt relief or reduction within a certain period, and always do more research on that company. 

Any service trying to get you to cut off communication with your creditors in favor of their service is also a sign that a service may not be as legitimate as it wants you to believe. Doing the right research and being well-informed can be the difference between debt relief and a scammer receiving a hefty payday.

Official Avenues for Debt Relief Are Preferred 

Whenever a service calls you asking you for large sums of money for debt relief, remember there are official avenues you can take to resolve your issues. Most credit card companies will talk to you through their customer service line and try to help you. Your credit card most likely has a phone number on the back that you can call to inquire about credit card debt relief. Often, setting up a payment plan to get your debt resolved can be an easier and safer method of reducing your debt.

Consider Legitimate Credit Counseling Services

Credit card debt can be difficult for many people to escape, as it often seems to keep building up as time goes on. However, along with official payment plans, plenty of legitimate credit counseling services offer assistance to people who want to tackle their debt. Credit counseling services can provide you with vital information about your credit, help you form a budget, and assist you in creating a plan to pay off your debt. Good credit counseling can be easy to find, too, with non-profit services often offered through universities.

Legitimate credit counseling services won’t promise to help you reduce or eliminate your credit card debt. Instead, they’ll help you create an effective strategy to manage your money better and reduce the burden of debt relief.

Casey State Bank: Serving Our Community

If you’re looking for a bank built by the community you can trust, Casey State Bank is here to help. As a family-owned community bank, we know what it takes to provide you with the banking and credit card services you need for your unique situation. We work with you to provide personalized service, and we can assist you if you want to start a business or buy a home. We’ll also work with you to make better financial decisions and create a strategy for paying down credit card debt. 

For a home-grown banking service you can trust, contact your local Casey State Bank branch today!