608 Mabry Hood Road, Suite 202 | Knoxville, Tennessee 37932
Beware of scammers offering debt relief
Dealing with overwhelming debt is never easy, and many try to find solutions for their predicaments on their own that does not include bankruptcy. Instead, they seek other alternatives that they believe will be just as effective, such as debt consolidation. However, as one Tennessee woman recently found out, many companies exist that prey on unsuspecting consumers looking for debt relief.
The Knox County woman had incurred a considerable amount of debt through credit cards and personal loans. Seeking relief, she searched online for a company that would offer her a consolidation loan of $10,000 to combine all of her debts. Not long into the process of searching, she found a company that offered help.
Advance America sent the woman a text message claiming she was approved for the loan. She called the number listed in the text and spoke with a company representative who told her they would need to check her credit first and asked for her Social Security number and bank account information. She complied; however, the representative called back and informed the woman that her credit rating was not high enough, and she would need to remit $600 so that the company could pay someone to modify her credit score. The woman sent the company the $600 through a Moneygram, but then she realized the whole process was nothing more than a scam. She closed all of her financial accounts and placed fraud alerts on her credit cards.
Unfortunately for her, she is now out of a considerable amount of money and still in the same situation she was before. Debt relief is available for those in need in Tennessee and elsewhere; however, consumers looking to find relief would do well to consult a local attorney who has experience in bankruptcy and debt relief options. Even if a consumer does not feel bankruptcy is the best choice, or does not qualify for the process, his or her attorney may be able to offer other alternatives that are legitimate and effective.
Source: lendedu.com, “Tennessee Resident Involved in Loan Consolidation Scam“, Mike Brown, Feb. 2, 2018
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608 Mabry Hood Road, Suite 202
Knoxville, Tennessee 37932
William E. Maddox, Jr. LLC, Attorney at Law is located in Knoxville, TN and serves clients in and around Knoxville, Oak Ridge, Louisville and Anderson County.
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