An amazingly high percentage of people are strapped with debt. Therefore, it's no surprise that a popular profitable business is that of debt elimination services and credit counseling. It should also come as no surprise that debt scams such as debt elimination scams have equally become commonplace.
There are a variety of debt-related scams which include debt advisors, identity theft, and even secured credit cards. This site targets these as well as the dreaded debt elimination scams.
Debt elimination scams claim your debt can be erased, reduced, and even your mortgage cleared. In part, the scammers feed you a line that says "banks and other lending institutions charge illegal fees. Therefore, we will file a form in your name and, using loopholes in the system, you won't have to pay back your loans. Regarding reducing your debt, they will charge you thousands in upfront service fees or monthly fees for 12 to 36 months.