Debt Elimination Scam

May people these days have a problem with mounting debt. The average person is well below the bad credit limit and is in desperate need to fix it.

Some people are so desperate to reduce their debt that they are seeking quick and easy ways of repairing their credit.

This demand has introduced us to the debt elimination scam.

For a large upfront fee of $2,500 - $3,000, the organizers of this debt elimination program scam will provide the victim with a special legal document . This document is then presented to the victims' bank, Mortgage Company, finance company, or other lending institution in an attempt to satisfy the victims debt. The document the victims receive is of course bogus or fake.

These so called, debt elimination programs are reminiscent of the tax protesters' tax evasion schemes seen throughout the 1990s.

The purported legal documents that are used in the debt elimination program scams include fake financial instruments that claim to eliminate the borrower's debt. The instruments usually question the authenticity of financial obligations, and often refer to a specific government agency (such as the Federal Reserve) in an attempt to support their claims.

Debt elimination program scams that claim they are approved by the Federal Reserve are bogus. The Federal Reserve does not approve, and is in no way involved in any program aimed at eliminating anyone's debt obligations.

Sadly, most of the people who stumble on these schemes were originally looking for legitimate ways to manage their debt.

There are effective ways that you can legally manage your debt.

You can go through a credit councilor. They will offer you great, professional advice about fixing your debts and may even refer you to a consolidator or loan company.

You can seek a debt consolidator. They will work with your creditors on your behalf in order to lower your monthly payments and much more.

You can also go and sign up for a credit union. Credit unions are much like banks in that they will take your paychecks and use them to pay your debts for you.

Credit unions will also place some of your money in a savings account for you so that you will have some money to work with.

John Parsons is founder of CorporateNarc.Com?. The mission of http://www.CorporateNarc.Com? is to educate the public in consumer affairs and to provide consumers with up-to-date business information. In addition we hope to ensure better services for the consumer by exposing business fraud and corruption, as well as unfair and deceptive business practices.

This article my be reproduced as long as the author's name and url to http://www.Corporatenarc.com are present at the end of the article.

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Customer Service Information:

Related Articles

Does Your Customer Talk Back To You?
What is your customer saying about you? Do you really know? Does your customer really know who you are?If you don't know what your customer thinks about you, your business, your product and your services, then you might as well close shop!A customer is the lifeblood of every business and you must always strive to be in tune with what your customer thinks and how they feel. Don't leave your customers unattended and in the dark.
Under Promise & Over Perform: The Art of Managing Customer Expectations
I'll always feel warmly about Conrad's restaurant, in Glendale, California.On the morning of the Northridge earthquake, Conrad's was the only restaurant in town that opened for business, and stayed open until the last customer went home.
Customer Service - A Lost Art?
Is customer service a lost art? Before you answer that question, take a moment and think about the last few times you have gone shopping or out to dinner. Okay, now that you have really thought about it, is your answer any different? Why is it that when we actually DO receive excellent customer service that it makes such an impression on us that we usually choose to go back? Why - because the occurrences are so few and far between!!! As a home business owner, it is imperative to my business that customer service is ALWAYS a top priority.
Listening to Customers - 5 Tips
In a strange juxtapositioning of articles, this month's UK 'Management Today' has three pieces, relating to the importance of listening to customers.Susan Rice, CEO of Lloyds TSB makes it clear how vital it is for great leaders to listen and hear.
The Dissatisfied Customer
We, as small business people, naturally dislike complaints from our clients and customers. Because we're intimately involved with our home businesses, small businesses, or freelance careers, any complaint takes on a personal commentator.
Transforming Disgruntled Customers into Your Biggest Advocates
"I am writing to complain about the widget I bought from your site the other day."Sell anything and eventually you will be on the receiving end of a sentence like this.
My Child Has Opie Eye!
7:00 a.m.
11 Ways to Get What You Want - Be a Clever Customer!
We all want great service, whether we are buying our weekly groceries from a store, or want a billing hitch resolved at our local utilities provider. Whether it's getting our car fixed, or a great meal in a restaurant.
In the Villa of the Sick Cat -- A Lesson in Customer Care
If you're a pet owner, you know the stress of having a sick pet and you know that having a great veterinarian is a wonderful thing. My cat, Zoe, came down with a nasty infection that had me racing off to the vet's office last week with an unhappy, howling kitty in tow.
What Every Manager Should Know About Seeing the World from Where the Customer Is Standing
It is important to remember that the customer doesn't necessarily see things in the same way we do. This point was brought home to me one day while I was shopping with my daughter, Stefanie, who was two years old at the time.
Top Ten Strategies for Delivering 5-Star Customer Service
Customer satisfaction is valuable, but customer loyalty is priceless. In today's competitive world of business, it is becoming more and more important to deliver customer service that is unbeatable.
8 Critical Steps to Establish a Customer Service Culture
"Every company's greatest assets are its customers, because without customers there is no company,"--Erwin FrandDuring our recent weakened economy, many businesses have seen declining revenues and declining budgets. Declining budgets often lead to reduced staff levels and diminished services.
Have You Hugged a Customer Today?
It all started a couple of weeks ago when a friend asked me if I could scan and print some of her slides. No problem, I said.
How To Use Your Current Customers
Jay instructed a customer of his to offer a rare coin collection to new customers for just $19. He was actually losing a couple of dollar on every sale! But .
The Great American Customer Service Unawareness Campaign
Q: I'm so sick of you so-called business experts always saying the customer is always right. This is my business, not the customer's, so I'm the one who's always right.
What Do Your Clients REALLY Think of You?
*********************************************Know Thyself - Socrates*********************************************I'd like to start this article with a test ?What do you get when you cross a Northern Canadian male, a 4x4 truck and heavy rain?You guessed it! ? Mud Bogging!!!!That is how I spent my morning. My husband's new truck was too shinny, so he felt he had to get it dirty again just so he could wash it for the fourth time this week.
We Got It Wrong: Never Under Promise & Over Deliver
You know how it is, you believe something for so long, everyone agrees with you, all the books tell you it's true and then suddenly you have a blinding revelation - we've all been duped! You know like my gorilla mates were? (If you're not sure about my gorilla mates then you really need to read the book - we've got a great offer on at the moment!)And you feel such a chump - how did I ever fall for that - the logic just isn't there - I must have been a fool. Let me explain.
5 Golden Online/Offline Business Rules To LIVE Or DIE By
Whether online or off, if you plan on running or maintaining any type of credibility within your business, there are some guidelines that are safe to say any existing or potential customer expects if they are to do immediate or future business with you.As an online entrepreneur for over 3 years I have found that even though I don't have the pleasure of meeting face-to-face with my customers, ones perception of you and your business can be viewed as good or bad all depending on the way you handle questions or comments posted by people interested in your product.
Putting The Service Back In Customer Service
The future of customer service is here. Technology has made seeking out support faster and easier than ever.
Mexico: Online Ordering-Dont!
I got it into my head sometime in December 2004 that I wanted order a laptop computer. I thought I would get one from the hugely popular computer company that allows you to call their 800 number and custom order what you want.