How to avoid becoming a victim of foreclosure scams

When your debt load has become overwhelming, it can be tempting to panic. It can be tempting to allow your stress, anxiety and frustration to rule your decision-making. This kind of response is both understandable and human. Unfortunately, this kind of deferment to emotional decision-making is exactly what foreclosure and debt relief scammers are hoping that you will resort to. As a result, it is critical to keep a clear mind, a calm demeanor and to seek help when financial trouble is threatening to rattle your emotions and your future.

Financial scammers hope that you are feeling emotionally clouded and desperate enough to swallow their disingenuous claims without questioning them. They hope that you will fail to consult an attorney before making significant decisions about how to address your debt and they hope that you will offer up valuable personal and financial information to them before clearing that action with your attorney as well.

Consumers have rights under the law. They are also subject to a myriad of protections under the law that can help them avoid scams and hold would-be scammers accountable for their actions. The key to avoiding foreclosure scams and debt scams is to understand two important facts. First, that as soon as you are experiencing financial trouble you become a vulnerable target for scammers. Second, that experienced bankruptcy and debt relief lawyers can help you understand your options and your rights under the law better than any offer that seems too good to be true.

If your debt load has become overwhelming, seek the assistance of an experienced bankruptcy and debt relief attorney proactively. In doing so, you will go a long way in protecting yourself from would-be scammers.

Source: Albuquerque Journal, "Feeding on foreclosure," Nick Pappas, Aug. 4, 2013

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