When it comes to finances, some Tennessee residents may be uncomfortable with their state of affairs. As a result, they may wish to find some form of debt relief that could potentially help their situation. Because bankruptcy can seem scary, parties may use other means that they think will help their financial circumstances. Unfortunately, many programs that offer relief are not as reputable as hoped.
The Federal Trade Commission, or FTC, has recently named defendants in a case regarding a debt relief scam. A company reportedly claimed to be able to help individuals get their finances back on track and improve their credit scores. The fraudulent operation ran under the names American Bill Pay and American Benefits Foundation. Parties would apparently pay for services that they believed would help their credit.
The programs were found to be duplicitous, and two individuals were recently considered to be the parties running the programs. At this time, the FTC is hoping to have the scam shut down and for individuals who have paid for services to be given refunds. A temporary restraining order has caused the parties to stop the fraudulent operations.
It is unfortunate that individuals have been swindled by such programs, and sadly, it is likely that there are other similar operations taking advantage of other individuals. Therefore, Tennessee residents who truly wish to seek debt relief through reliable means may wish to consider bankruptcy. With additional information, individuals may be able to understand that bankruptcy can be beneficial for a fresh financial start.
Source: insidearm.com, "FTC Names Two New Defendants in Debt Relief and Credit Repair Scam", Patrick Lunsford, Feb. 12, 2015