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Managing credit card debt in a world of scams

When consumers are facing serious financial challenges due to large credit card bills, the options that are available to them may seem limited. For many consumers, the choice may be to either pay off the credit card debt or to use debt relief services. Unfortunately, many people are cautious about considering such services, and for good reason. Tennessee readers struggling with credit card debt and considering a debt relief agency or organization may find the following blog informative.

According to multiple news sources, since the fall of last year, the Federal Trade Commission has reached around $13.5 million in judgments against a number of debt relief and mortgage relief groups for various violations of the laws. These violations include a host of predatory activity such as violating telemarketing laws, charging individuals struggling with debt excessive upfront fees, as well as making false promises to consumers who are vulnerable and in need of serious financial help.

While the activities of these bad apples are worth noting and important to keep in mind when speaking to people about debt relief assistance, it is important to know that not everyone is a crook. In fact, there are a number of potential options available to consumers struggling with debt and organizations that can help. The key, of course, is to know when an organization is promising more than it can actually guarantee and when such organizations are offering legitimate ideas and services.

Regardless of the approach a person chooses or the service a consumer needs, from filing for bankruptcy to credit repair; it is vital to know what one is getting into. One option Tennessee readers have is to discuss their situation with a local bankruptcy attorney. A local bankruptcy attorney will be able to review one's estate to find the best option available based on the unique circumstances. While it is not the only option, it is the best option to ensure that one's financial well- being is being protected and their interests are being served.

Source: Chicago Tribune, "Beware debt relief scams," Anya Kamenetz, January 28, 2014

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
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