Chicago Bankruptcy Attorneys Caution Against Consolidation Loan Scams
When my credit debt was at its highest, I encountered a very interesting phenomenon. It seemed as if I was getting more credit and loan offers - and some at better rates - than ever before. It just didn't make sense - why would anyone rather lend money to a person with a history of inability to pay?
The DebtStoppers attorneys in Chicago and Atlanta finally helped me figure it out - they're scams!
All of these offers had something in common. Many were coming from debt consolidation companies promising low rates and no credit requirements in exchange for upfront payment. Anytime someone wants payment before providing a service, it should raise a red flag. Why? Because after you provide the upfront money, the debt consolidation lenders do one of two things: they either disappear or they tell you that there was a problem with the loan at the last minute -- it's not going through, and your payment is nonrefundable.
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