Consumer Beware: Debt Consolidation Scams

Bankruptcy

Individuals with overwhelming debt often feel desperate about finding financial solutions. Unfortunately, some people fall prey to companies engaged in debt consolidation scams. Such scams put the individuals further into debt and violate their rights under fair debt collection laws.

Government cracks down on illegal collection activities

Georgia residents who suspect they are victims of a debt collection scam should consult a Georgia bankruptcy lawyer  to find out about their rights to recourse.

Some of these debt collection services take part in scams that operate nationwide. The USA.gov website  has several articles exposing companies involved in scams and describing legal actions that state governments have taken against the companies. For example, one company going by two names, Regent Asset Management Solutions and Imperial Recovery Partners operated out of Kansas and Colorado offices. The Colorado Attorney General’s Office accused Regent Asset Management of misleading and deceiving consumers during debt collection activities in violation of the Colorado Fair Debt Collection Practices Act and Colorado’s Consumer Protection Act. Even after a court order restrained the company’s activities, the Attorney General’s Office had to take further action and accused the company of ignoring the order and continuing its violations. The Better Business Bureau (BBB) in Kansas City was busy working with the St. Louis BBB to investigate the company’s actions and handle hundreds of complaints. One particular consumer, whom the company insisted had a $3,000 bank debt, called the bank and confirmed she had no debt. Despite her confirmation, the firm continued its harassing phone calls. Consumers in 42 different states filed complaints against this company.

Seek legal help from a reputable bankruptcy lawyer

When strapped with debt, avoid debt consolidation scams and instead seek legal help from an established and experienced bankruptcy lawyer. Jeff Field & Associates has more than 70 years of combined experience and has conveniently located offices in six Georgia locations.