Millions of people fall victim to fraud every year, and even though this is something that usually ends up without long-term consequences, you never want to fall victim to financial fraud. On the current market, there are thousands of third-party services that are supposed to help you when you have overdue credit, and even though most of them are trustworthy, some are not. In this article, we are going to tell you some of the signs of debt consolidation scams.
1. You are advised to stop talking to the lender
The first sign that you may be a victim of fraud is if the service you are collaborating with is telling you that you need to stop all communication with your lender. At the end of the day, you are owing money to them, and you want to find the easiest way out of your debt.
Being advised that you should not return their calls and that you should just ignore them might be a sign that the third-party service is trying to do something they should not.
2. You pay money and there are no results
We all need to pay for the services that we use, but if you are constantly being nagged to start your payments without seeing any results, you should not trust that service, and you should check your options.
Note that in some cases, you may even receive offers with personalized interest rates and then get redirected to other services. Before accepting this offer, you should check if the offer is viable. This yet another reason to only work with trustworthy services Credit9.
3. You get spam offers
Notifications and promotions are part of every business that you are interested in, but once you have a deal with someone, they should stop being pushy and they should stop sending you too many offers.
If you notice that you are constantly getting offers and deals that are supposed to be better than the one you currently have, it may be a sign that there’s something wrong. If you are constantly contacted by different agents with dozens of offers, you may want to recheck the service’s credibility.
4. You don’t get enough information
Communication is the key when it comes to third-party services, especially when it comes to your finances. Because of this, you need to be able to reach out to your advisor and get all the data about your case that you need.
If you feel like they are withholding information; if you cannot get an exact answer to any of your questions, and if they seem sketchy or suspicious, chances are, they are trying to scam you and they are doing something behind your back.
5. You are advised to stop making payments
Know that you should never stop paying your bills unless that is mandated by the court or you have a document signed by the lender. There are services that will try to scam you and get you into bigger trouble by advising you to stop making your payments to the lender.
Don’t ever do this, and if you feel like they are pushing you to do this or giving you confusing explanations why this is good for you, you need to look for an advisor or just talk to your lawyer about this.
Pay attention to these signs if you want to find out if you are collaborating with a good company or if they are trying to scam you out of your money and put you in even bigger debt.