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Beware of scammers offering to resolve credit card debt issues

It is not uncommon for Arkansas consumers who are overwhelmed by credit card debt to fall prey to businesses that promise to resolve their debt issues. Unfortunately, the desperation to get out of the spiral of unmanageable credit card debt makes some people blind to the fact that if an offer sounds unbelievably good, it is probably a scam. A federal court has recently halted an operation run by scammers who offered debt relief nationwide.

This was a telemarketing project in which the scammers obtained the information of consumers with overdue credit card debt and called then with promises to resolve their credit card issues. Consumers were told that lower interest rates would be negotiated on their behalf, saving them thousands of dollars. The complaint states that the callers often claimed an affiliation with the credit card company and even provided badge or license numbers while claiming to be aware of the amounts of debt the consumers had.

In order to receive the assistance of the scammers, consumers had to pay between $500 and $1,500. Predictably so, the relief promised by the company never materialized. Arkansas consumers may want to take heed of this case and keep in mind that credit card companies don't typically discuss interest rates and debt relief on the telephone. There are legitimate ways to resolve credit card debt issues.

Arkansas consumers may benefit from consulting with experienced bankruptcy attorneys who will provide information on the protections offered by personal bankruptcy. Credit card debt and other unsecured debts can be discharged in Chapter 7 bankruptcy, and extended, court-approved payment plans in a Chapter 13 bankruptcy can ease financial pressures. Personal bankruptcy may provide a fresh start and pave the way to a stable financial future.

Source: wqad.com, "Credit card debt relief scam shut down after customers lose millions", Shellie Nelson, July 7, 2015

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