Phony Counseling Agencies
Phony Counseling Agencies
Some groups calling themselves “counseling agencies” may approach you and offer to perform certain services for a fee. These could well be services you could do for yourself for free, such as negotiating a new payment plan with your lender, or pursuing a pre-foreclosure sale.
Here are reasons to avoid getting scammed by counseling agencies:
Research and Verify: Check the legitimacy of counseling agencies through reliable sources like the Better Business Bureau or state attorney general’s office. Read reviews and testimonials from previous clients.
Beware of Upfront Fees: Legitimate agencies offer initial consultations for free or at a low cost. Be cautious of high upfront fees.
Educate Yourself: Understand the services offered and assess if they can be performed independently or with reputable free resources.
Avoid Pressure Tactics: Be cautious of high-pressure sales tactics and agencies rushing decisions without full comprehension.
Check Credentials: Ensure counselors are properly accredited and possess necessary qualifications.
Secure Payment Methods: Use secure payment methods, avoiding cash or untraceable transactions.
Stay Informed: Keep updated on common scams and frauds in the financial industry to recognize red flags.
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