Mahaffey & Associates, LLC
Call For A Free Consultation
888-422-6894

Beware of scams focused on eliminating your debts

When an Ohio resident is overburdened with debt, he or she will often go to great lengths to remedy the situation. Many will attempt one or more debt relief programs before determining that personal bankruptcy is the best possible option. While there are certainly some reputable debt relief programs available, the debt relief industry is rife with scam artists who are eager to prey on your commitment to eliminating your debts.

In fact, at least one state's attorney general has spoken out against these phony debt relief companies, claiming that debt relief scams are the top consumer complaint. That state has launched an initiative aimed at educating consumers about the risk of debt relief scams and helping them to identify better paths for overcoming overwhelming debt. The office of the attorney general has also filed suit against one company that is believed to be operating a scam.

Many of these scams target people who have hefty student loan debt. The programs offer to provide student loan debt relief by deferring payments. However, consumers are not properly informed that deferring student loan payments will cause the interest to rise, making the overall debt higher in the long run. These clients are also not informed about other, often free, programs that can help borrowers gain control over their student loans.

For those in Ohio who are considering debt relief programs, it is important to do the legwork to determine if an offer is coming from a valid and legitimate debt relief organization. Scammers target consumers who are in difficult scenarios. Many believe that student loan debt scams are among the fastest growing rip-offs in the debt relief industry. Eliminating your debts is a worthy goal, but it is important to choose a wise path when working toward becoming debt-free.

Source: Chicago Sun-Times, "Consumer debt still No. 1 source of complaints", Andy Grimm, March 7, 2016

No Comments

Leave a comment
Comment Information

Ready To Help

Call Mahaffey & Associates, LLC, toll free at 888-422-6894 to speak with one of our experienced lawyers.

We offer free initial phone consultations. Evening and weekend appointments are also available upon request.

We accept Visa, MasterCard, Discover and American Express.

VISA | MasterCard | American Express | Discover Network
Tell Us About Your Legal Need

Tell Us About Your Legal Need

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

A Full Service Firm For Northwest Ohio with Three Convenient Locations 24/7 Phones And Appointments Taken at 888-422-6894.

Sylvania Office
8527 Central Avenue
Sylvania, OH 43560

Sylvania Law Office Map Phone: 419-829-2255

Northwood Office
3200 Woodville Road
Northwood, OH 43619
Map & Directions Phone: 419-693-5515
By Appointment Only

Toledo Office
3131 Executive Parkway, Suite 100
Toledo, OH 43606
Map & Directions Phone: 419-472-5555
By Appointment Only