You can also contact New York’s Homeowner Protection Program (HOPP), which connects New Yorkers with housing counselors and legal services at no cost. A counselor may be able to provide much-needed assistance at little or no cost. Visit the federal government's website for a list of servicers and their contact information.Ī not-for-profit housing counselor may be able to help you negotiate a solution or find local legal services. They can help you explore possible solutions to protect yourself and your family.
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If you are at risk of foreclosure, contact your lender or loan servicer immediately. Here are some important steps you can take to protect yourself. If you are having difficulty making your mortgage payments or are in foreclosure, you’re not alone, and you can get help. If you are looking for help to pay off debts, be sure to confirm that your nonprofit credit counselor is licensed to provide budget planning services in New York by visiting dfs.ny.gov. Contact the National Foundation for Consumer Credit at 1-80 or. If you have credit or debt problems or concerns about your personal finances, you may want to contact your local nonprofit credit-counseling agency for assistance. If you don’t have the offer in hand - or confirmed in writing - and you are asked to pay, don’t do it! It is fraud and it is illegal! Never provide your credit card, bank account numbers, or Social Security number, whether over the telephone, by e-mail, or any other means, unless you are familiar with the company and know why the information is necessary. If anyone tries to charge you more, report it to our office. Watch those fees! State law limits the total fee a loan broker can assess (after loan approval) to 0.5% of a non-mortgage loan. Legitimate lenders never guarantee or say that you will receive a loan before you apply, especially if you have a damaged credit history or no credit record at all. It’s illegal for companies doing business by phone to promise you a loan and ask you to pay for it before they deliver.Īdvance fees for a loan are illegal. Ignore any offer that guarantees you a loan for a fee paid in advance. If you have further questions about advance-fee loans or other credit offers, please contact our office at 1-80 read more on this website.ĭon’t pay for a promise. This, however, does not guarantee the legitimacy of the company or their offer. Keep in mind that advance-fee loan scams are oftentimes advertised in recognized media outlets - your local paper or radio station, or on cable TV spots. The scams differ from legitimate credit offers in one important way - they require payments up front, before the lender is identified and the application is completed. The scams - advance-fee loans - usually “guarantee” or represent a “high likelihood of success” that they can arrange a loan or credit for a consumer, regardless of the consumer’s credit history. Worse yet, scam artists have found a way to reach out to those particularly vulnerable consumers, such as those with credit problems or no credit history at all, the unemployed, and even those consumers in emergencies who have an immediate need for cash. Unfortunately, maintaining good credit can be difficult.
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This makes personal credit more important in our daily lives. With the rapid development of technology, our society is moving closer and closer to a paperless economy.