DAYTON, Ohio (WDTN) – U.S. and Canadian citizens hold trillions in debt, and many are looking for solutions to unpaid bills and low credit scores.
The Dayton Better Business Bureau conducted a credit & debt assistance study to find out further information. Sheri Sword, BBB VP of Communications, sat down with the Living Dayton team to share the findings of this study.
Sheri said predatory companies offer quick solutions and make promises they rarely can fulfill. Most debt and credit services legally can’t charge fees before services are rendered, but some disguise the fees as service charges.
Watch out for these actions from predatory companies:
- Guaranteeing they can remove negative marks from credit scores
- Promising credit fixes and debt payments in a matter of weeks or a few months
- Downplaying or hiding their fees and other charges
- Using high-pressure sales tactics to convince down on their luck consumers to act fast
- Attempting to secure payment or bank information before agreed upon services are rendered
For more tips and further details, watch the video above or visit the BBB’s website.