Scam warning
Debt Relief and Credit Repair
A company promises to lower or erase your credit card debt, or quickly fix your credit score. They charge big fees upfront, tell you to stop paying your bills, and leave you deeper in debt.
Also called: Debt settlement scam, Credit repair scam, Card interest rate robocall
The one thing to remember
It's illegal for debt relief companies that call you to charge fees before they settle your debt. Free, honest help is available from nonprofit credit counselors.
How it happens
- A robocall offers to lower your credit card interest rate, or an ad promises to erase debt.
- They ask for an upfront fee, or your card numbers.
- They tell you to stop talking to your lenders and stop paying.
- Late fees and damage to your credit pile up, and the debt isn't settled.
Warning signs
- Fees before any work is done.
- A promise to make your debt disappear.
- Being told to stop paying your bills or talking to your lenders.
- Robocalls about “lowering your interest rate”.
What to do
- Call your card company yourself and ask about a lower rate or a payment plan.
- Find a nonprofit credit counselor through the NFCC.
- Your free credit reports are at AnnualCreditReport.com.
Last checked: October 31, 2026