Be careful of the fake guarantees they advertise and advance fees
You would had listened to satellite radio or watched cable TV flooding commercials for companies broadcasting they can help you reduce your debts of credit cards or the Internal Revenue Service (IRS).
A general feature of these ads is the caution that “there are a lot of scammers” out there creating similar claims, but still not all are scammers.
Another common characteristic of these commercials is the prerequisite “if you have $10,000 or more in credit card debt…” they can help you. But why should $10,000?
The reason for $10,000 is many companies charge a percentage – generally around 10 percent – of your total debt as their fee. The more money you owe, the more you have to pay them.
The Federal Trade Commission (FTC) revised the Telemarketing Sales Rule (TSR) last year to include specific terms to reduce deceptive and abusive practices linked with debt help services. Appreciated change is that many more businesses will now be subject to the TSR.
This rule extends the possibility to cover not only outbound calls from the companies but inbound calls from consumers, in response to advertisements and other solicitations. There are three chief alterations to the rule, but one among them will have the majority impact.
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