Now most of the companies who relied on ridiculous upfront fees are thankfully out of business. But there remain a few loop-holes…..or as I like to call them “L” holes.
If you have even glanced at our blog, you know we spend a lot of time discussing the landscape of debt settlement POST the new laws. And for those of you just tuning in, those laws limited debt solutions to only companies that charge fees per PERFORMANCE. Nothing upfront.
Now most of the companies who relied on ridiculous upfront fees are thankfully out of business. But there remain a few loop-holes…..or as I like to call them “L” holes.
These L holes are companies that don’t try to improve themselves to meet the new law’s requirements. Instead they just find increasingly more sophisticated ways to scam people and not get caught.
The purpose of this is clear: Don’t provide debt solutions, and scam people for every dollar they have.
One of the big loopholes these companies utilize is a front-loaded scam called “face to face.” This allows them to still charge people upfront so long as they meet them face-to-face. Terrible.
There is no reason for a company to meet you face to face and ask for upfront fees. If they want to meet face to face, it should be for the right reasons: To just MEET you. Why is that such a foreign concept?
Don’t fall for the idea that meeting face to face is more convenient. It might be…it might not be. Just keep a critical mind around the notion of paying fees upfront, and protect yourself.
Don’t be afraid to call them on it. What kind of debt solutions are these? We are broke and you are just charging us more? Keep the vultures at bay, trust me, if they are not transparent- they are not looking to help.
And if you do decide to do business with an “L” hole make sure they do it over the phone and with no upfront fees.
Speak Your Mind