New Yorkers At Higher Risk For Credit Settlement Fraud
With New Yorkers struggling with credit card debt, they are being warned to watch out for fraudulent debt settlement companies lending a helping hand.
About one in five homes in New York City have more than $10,000 of credit card debt, and fraudulent debt settlement has been named as the year's top fraud, Jonathan Mintz, City Consumer Affairs commissioner told the New York Daily News.
Mintz said at a press conference during National Consumer Protection week that debt settlement companies are hustling a city that is mired in debt.
Currently, Mintz is encouraging the populace that is affected by debt to call 311, a number in the city to help with debt-related issues. New York City has "Financial Empowerment Centers" that aid those that have credit problems, and contacting the number is a much safer way to go about credit settlement information than to cave to a fake credit settlement scheme.
The Financial Empowerment Centers have helped reduce $4 million in debt for citizens of New York City since 2008, according to the news source.
When it comes to personal financial information, it's important t... Read more
Many New Yorkers are already struggling with mounting mortgage an... Read more
If a credit card holder has $600 or more of debt forgiven, then t... Read more
A new book has outlined some key strategies for helping those who... Read more
The mountain of national credit card debt may be shrinking, but w... Read more
New government regulations in place for consumers in need of debt relief for credit cards and other unsecured debts.