Debt Reduction Scam
Fooling millions nationwide
Run, don't walk, if you get a call promising eliminating or reducing your debt. Debt relief service telephone scams target consumers with significant credit card debt promising to negotiate with creditors to settle or reduce repayment obligations. These operations will charge consumers a large up-front fee and then do little; or nothing.
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What You Should Know
A federal court temporarily halted a massive phony debt relief operation that bilked tens of millions of dollars from financially strapped consumers, including student loan debtors, the elderly and disabled.
Working through multiple companies, these scammers swindled consumers to pay hundreds or thousands of dollars a month by falsely promising they would pay, settle, or obtain dismissals of their debts. Over time, these victims found their debts unpaid, their accounts in default, and their credit scores severely damaged. Worse still, many were sued by their creditors or forced into bankruptcy.
How YouMail can help stop debt reduction scams today
YouMail customers are protected from scammers, spammers and other unwanted callers. And it's 100% totally free. Our exceptional call blocking and caller ID capabilities effectively block calls and remove any and all numbers from robocaller lists; FOREVER.
Here are a couple of REAL voicemails
left with YouMail customers.
A few weeks ago, you've been pre-approved for a lower monthly payment and possibly loan forgiveness on your student loans. This pre-qualification will expire on Friday. Press two to speak to one of our specialist now before your prequalification expires. Press two now and claim your lower monthly payments and possibly be eligible to have your loans forgiven. If you want to decline this offer press one now and you'll be placed on our do not call and your preapproval will be canceled.
Hi this is Aaron Baker with important information that may have your accounts that have accumulated debt eligible for substantial decrease or perhaps drop entirely. Press one now. There is currently nothing wrong with your accounts as of right now. We are notifying select account holders of this offer while we have the opportunity to help them. Press one now to determine if you qualify for this program. Press nine to opt out.
What you should do
There's no easy way out of debt. So, if the offer sounds too good to be true, it probably is. But there are legitimate and reputable companies that can help. It's important to do your homework and know what to look for so that you can make a smart choice. The best way to protect yourself is to research the company before you do business with them.
Our best advice
Let calls from numbers you don\'t recognize roll to voicemail. Voicemail is your greatest asset against fraud. YouMail identifies known scam callers. They will hear an "out of service" message and the scammers will take you off their list and move on. To find out more about the number, check out YouMail's online phone directory to see if that number has negative reports or belongs to a known scammer.