Great Lakes Wire

Michigan Attorney General Dana Nessel has reissued five debt-related alerts as Debt Awareness Week draws to a close, aiming to educate residents on managing their debt and protecting themselves from financial exploitation. Nessel emphasized the importance of this initiative, stating, "Debt Awareness Week is a time for us to reassess our budgetary wellness and chart a path for a healthy financial future."

The Attorney General's focus on consumer protection was evident as she highlighted the prevalence of scams targeting individuals facing tax debt issues, urging caution when dealing with companies promising tax debt relief. Nessel's Tax Debt Resolution Scams alert aims to inform taxpayers about the risks associated with such promises.

In addition to tax-related scams, Nessel also addressed the risks associated with payday loans, emphasizing the importance of understanding one's rights when considering such high-cost, short-term borrowing options. Her Payday Loans: Know Your Rights alert serves as a guide for residents navigating financial difficulties.

Auto title loans were another area of concern highlighted by Nessel, as she warned residents about the potential pitfalls of turning to such loans when in need of fast cash. The Attorney General's Auto Title Loans alert cautions against the risks of falling into a cycle of debt or losing one's vehicle due to these types of loans.

Furthermore, Nessel shed light on the consequences of cosigning a loan, emphasizing the legal obligations and risks involved in such agreements. Her Cosigning A Loan? Know the Risks! alert provides valuable insights for individuals considering becoming a guarantor for someone else's loan.

Lastly, Nessel's Debt Collection & Debt Collection Scams alert offers practical tips on how to handle interactions with debt collectors and avoid falling victim to scams. The Attorney General's proactive approach to consumer protection underscores her office's dedication to safeguarding Michigan residents from financial exploitation.

Debt Awareness Week, originally initiated in the United Kingdom in 2014, serves as a reminder of the importance of financial literacy and responsible debt management. By amplifying these consumer alerts, AG Nessel continues to empower residents to make informed financial decisions and protect themselves from potential scams and exploitation.

For Michigan residents seeking assistance with debt-related issues or wishing to file a complaint, the Department of Attorney General's Consumer Protection Team stands ready to provide resources and support. Contact information for the Consumer Protection Team is available for those in need of guidance in navigating financial challenges.