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Home > Consumer Protection > Consumer News & Information > FDIC Consumer News |
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FDIC Consumer News
Winter 2003/2004 Beware of Bogus Debt Elimination Scams If an Internet site or other advertisement offers to sell you a document you can use to "legally" eliminate an outstanding credit card balance or other debt, don't believe it.
U.S. government and banking industry reports indicate a variety of schemes on the Internet and elsewhere promoting programs that, for a significant fee (sometimes thousands of dollars), fraudulently claim to enable borrowers to stop payments on a debt simply by giving the lender a specially-prepared document. Many of these offers also cite false claims about the Federal Reserve System, U.S. currency or other federal or state government programs as the legal justification for their debt elimination program.
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Last Updated 03/08/2004 | communications@fdic.gov |
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