I’m a little worried right now. I think my Dad may have gotten scammed by a debt relief agency called Liberty Financial Help Center.
They claimed that they could reduce his credit card debt and my student loan debt to $20,000. Collectively my student loan debt (which he’s co-signed on) and his credit card debt add up to $50,000, this number of which they had no way of knowing beforehand. Unfortunately my Dad believed it and told them how much debt he owed and gave them his checking account number of which they would be deducting the monthly payments from and social security number.
He called me on the phone about it after the fact and as soon as I had heard what was going on red flags starting going up. As soon as I got the opportunity I did research on the company and couldn’t find anything. Nothing on google. Just nothing. I then typed in the address. The address was associated with a company by the name of Liberty National Help Center which on the BBB website had only two reviews, both claiming to have been scammed. Everything else I found seemed to be illegitimate and just the fact that they don’t have even an actual website is a huge red flag. Unfortunately they may have scammed by Dad after this has all been said and done. What should he do now?
I admit from the information you gave me, it’s not looking great but there are some things you can do straight away.
The first is for your father to call his bank and ask them what he needs to do if he wants to try to stop the debits.
But before you stop the payments, let’s do a bit more homework and make sure it’s not as bad as it looks. I recognize the company listing with the BBB is using a virtual mail drop I’ve seen used many times before.
I would suggest you look at my guide on how to check out a debt relief company. A few minutes following the guide will give you facts and information to make a better decision if the company is less than you hoped for.
Next, don’t be afraid to call the company and ask them about the issues you discovered in your research and ask for help to clarify your concerns. Most people are very good at recognizing poor answers to easy to answer questions. That screams red flags.
It’s going to be up to your father to cancel his contract with the company. The company should be happy to do that. If they are not then call the bank back again and stop the payments to the company. Then follow this guide to raise the pressure on the company is they are not willing to help you resolve this issue in a positive manner.