Acs Recovery Services Scam

Acs Recovery Services Scam

When a person loses money and gets nothing in return they want to try to recover those funds. Unfortunately, this is a desire scammers now play on with their claims that they can recover the money for you. There are many aspects to these scams.
Now that the economy is extremely weak, the most common scam you will find involves mortgage fraud and foreclosure recovery scams. There are a lot of people who are now afraid they will lose their home because they are having financial difficulties. These people are doing everything they can to keep their bank from foreclosing on their homes.
Some of these folks have had help refused to them by their bank or mortgage company and will try anything to keep their home. You can find scammers everywhere, from online in email or internet ads, calling your phone, or placing ads in the newspaper to aid in refinancing or home loan modification. The one thing you should look for is if they ask you to pay a large fee straight off the bat.
Unfortunately, for the homeowner, these criminals have no legal means, nor the ability to do anything, regarding the home loan. After paying a negotiating fee, the homeowner finds him or herself without any assistance but, rather, out money they could not afford. They are told not to contact the lender, attorneys, or anyone else and especially not to reply to court or bank correspondence. After falling for this scam the homeowner finds out that their home has been foreclosed on and they have recourse to recover.
One of the most advertised scams on the market today is 'credit recovery.' With this scam the perpetrators promise to see that a person's credit companies are contacted and an agreement is reached not only to reduce the amount owed, but to accept smaller payments. With this agreement a person is supposed to make monthly payments directly to the scanner who then makes payments to the companies; however, this rarely happens.
However, far too many people have determined that the 'credit recovery' scam involves the scammers just holding on to the money that you paid them, and you still owe the credit companies. Also, your late fees and interest will accumulate, putting you in further trouble with your creditors. For the most part, you can rest assured that a credit card company will work with you in the event you need your terms renegotiated.
You should be careful if you are looking for help in your time of financial hardship. Watch out for red flags like a large upfront fee, being told not to seek legal counsel, being required to sign documents you don't understand, etc. These red flags should tell you straight off that something is amiss.