Let’s get straight to the point. Without meaning to scare you senseless, if you’re in debt and looking for ways to get out if it, things can seem pretty desperate. And when you’re desperate, you’re vulnerable. And guess who can smell this vulnerability a mile off? Credit Card Relief Scammers. They have a nose for sniffing out the susceptible. Credit Card Relief Scammers? If you’ve never heard of them or never come across them then you are fortunate. But it’s worth knowing a little bit about their ways and their habitat and the dangers associated with them. These creatures are a little bit like the loan sharks of old, only with far bigger teeth and, since the advent of the internet, an even bigger ocean to trawl for prey: prey being people just like you trying to keep afloat.

We’re not going to look at why you have found yourself in debt here. We’re going to focus on the fact that you are and that, understandably, you want to get out of it.

Being in debt isn’t just about the practical matters like not being able to afford to pay what you owe, or struggling with day to day expenses. It’s about the phone calls from creditors, or worse still, the bang at the door that could be the bailiffs sent to reclaim goods to cover your debt. It is all those things and more. It is emotionally draining and can keep you awake at night. All you want to do is stop yourself sinking, right?

Suddenly it looks like the solution has been sent from heaven to you. You receive a letter in the post or an email from a company that claims they are the Number 1 credit card debt removal company in the world. They make promises to you. They say they’ll solve all your debt problems. All you have to do is write back, email a reply or even call the company. And if you do contact them, everything seems to be straightforward. You provide them with details of all your creditors and they’ll get back to you with a very appealing breakdown that tells you they can help you to pay off everything you owe at a much lower rate than the one you are collectively obliged to pay currently.

So what’s your part of the deal? Not much. Or at least it doesn’t seem like much but it will cost you dear. All you have to do is write a check to the company every month and they will take care of paying your debts for you.

OK, let’s say you sign up for this. Initially you may feel you are sailing calmer waters. There’s a feeling of relief attached to handing over the hassle of dealing with your debts to someone else. But pretty soon you realize that the amount of money you owed in the first place is still the same. You still owe the same amount of money, you are still in debt. So what’s going on? What is the company doing with the money you pay them? First off, they are charging you a fee. Obviously, we have to put an admin charge in place, they claim. We have staff to pay. But they assure you they are working on your behalf. Let’s get real here, they’re not. They are working on their behalf and for their benefit only. Some companies don’t even bother to pay anything towards your debt, they simply do a massive mail or email shot at vulnerable people they have sniffed out and then, after the first checks have been banked and the money is in their account, they mysteriously disappear into the murky depths of the debt sea.

So what are the hard and fast rules to avoid this kind of scam?

* Never respond to correspondence from unknown companies that seem to magically know you are in financial trouble.

* Always contact your actual credit card company or bank for advice about managing your debt.

* Never agree to send checks to credit card debt relief companies.

* Be aware that the majority of credit card debt relief companies are fly-by-night organizations that can land you in more trouble that you were in to start with.

Author Bio: Tom C. Raynes writes many articles on credit card debt and other financial problems. He keeps a regularly updated site that focuses on avoiding debt and solving debt issues. His particular aim is to make all the notoriously confusing money speak comprehensible to the layperson.

Category: Finances
Keywords: credit card debt relief, debt relief, credit cards