Article: The "Credit Card Debt Termination" Scam
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The "Credit Card Debt Termination" Scam
"Legally terminate credit card debt! You can be debt-free in 4-6 months!" Advertisements like this are for a new type of program that has spread via the Internet over the past few years. It's called "Credit Card Debt Termination," and victims are paying up to $3,500 for this bogus service. In this article, I'll review the principles behind this program and explain exactly why it's a scam to be avoided.
First, let's get our definitions straight. The scheme I'm describing here should not be confused with Debt Consolidation or Debt Settlement (also known as Debt Negotiation), both of which are legitimate and ethical methods for debt resolution. The easiest way to distinguish the Credit Card Debt Termination scam from other valid programs is based on the central claim that you r...
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