Those in Debt Targeted by Scam Artists
The worry which debt brings can and frequently does cause people to make decisions they otherwise would not entertain in a million years. The Office of Fair Trading (OFT) has highlighted the vulnerability of those suffering from debt concerns and that this section of the population is now even more of a target for online and internet scams than their 2008 preferred group – the elderly.
The proliferation of online scams and internet swindles has dramatically increased concerns with frauds usually revolving around bogus lottery winnings announcements or recently departed Nigerian government officials who have billions stashed away in secret accounts which need you to unlock. For those who are suffering from extremely high levels of stress and worry, it is easy to understand how a victim may fall for such a scam out of sheer desperation.
The OFT has held its annual “Scamnesty” last January but efforts are still continuing to encourage the public at large to email in their information when they are approached by a potential fraudster online. According to the OFT the most popular scams include very large prize draws, psychic scams where personalised predictions are offered, bogus foreign lotteries, advance fee fraud where you have to pay a fee so a much larger sum will be paid into your account (the “Nigerian” scam), premium rate telephone number scams and emails offering too good to be true business deals and opportunities.
Therein lies the first warning sign – if you receive an offer which you feel is too good to be true then chances are 99.99% sure that it is a scam!
If you are suffering from worry and stress over your debts there are a number of options open to you which can relieve your stress levels and allow you to get back to living and enjoying your life.
You can negotiate a debt repayment schedule with your creditors to allow realistic and reasonable repayments to be made without breaking your budget each month. Even better, you can look at consolidation loans which will simplify your debt situation and reduce your interest rate as well as dramatically reducing your monthly repayments. For those looking for a definite way out of debt but whose debts have grown too large for this to be done in a realistic timeframe there is an IVA or as a last resort, bankruptcy.
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