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LegalGems
LegalGems, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 10294
Experience:  Research Attorney; Private Practice; Attorney Mentor; Mediator
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I received a call from kwp services and asking me if they

Customer Question

HI I received a call from kwp services and asking me if they can reduce my apr on my credit cards. They took all my details and said I need to send them $ 600 and they will take care of reducing my apr and save me a lot of money
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  LegalGems replied 1 year ago.
A few minutes please as I look into this for you.
Expert:  LegalGems replied 1 year ago.
There are many different scams conducted via phone, internet, or mail. One current scam is the "card services scam". The first concern with this is potential Identity Theft. Some calls are made by criminal enterprises to obtain personal financial information. They may falsely represent that they are associated with a bank, or that they only need to “verify your banking information” to help lower your interest rate. In other cases, they may claim to be able to negotiate better terms or conditions on a credit card account, and then pressure one to disclose financial information to take advantage of their special services offered for a limited time. The other concern is possible Debt Assistance Scams. They make unsolicited calls promising to help lower a person’s interest rates,usually requiring the consumer to pay high up-front fees. Once the consumer pays the money, however, the companies often fail to deliver the promised services. These companies are very hard to sue for breach of contract as they often operate illegally and only through websites, or overseas. One can contact the credit card company directly and negotiate an APR reduction for free - that is always an option. If the company is saying you "have to" pay them, that is illegal and there would be no basis for them to take any legal action. They can be reported here: https://www.ftccomplaintassistant.gov/GettingStarted?NextQID=216& Further questions? Please post here to continue the chat. Satisfied? Kindly rate positively so I receive credit for assisting you.(no additional charges are incurred). Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.
Customer: replied 1 year ago.
when they called me, we had a live negotiation with my credit card companies and reduced the APR. Before all this happened they had an audio legal agreement or something of that sort. I said I agree to their terms but I am afraid if it is done via phone that is acceptable or not.
Expert:  LegalGems replied 1 year ago.
Was the negotiated APR agreed to in writing by the credit card companies?How long ago did this occur?
Customer: replied 1 year ago.
it was agreed by my credit cards in writing. I do have the confirmation letters from them. This happened last week.
Expert:  LegalGems replied 1 year ago.
OK; thank you; then if there was a contract and the party performed, then payment would be due; I would encourage you to contact the credit card companies to ensure they sent the letters and they weren't forged. However, if they did not receive the discount promised then it can be challenged and a complaint can be filed here:https://www.consumer.ftc.gov/articles/0131-credit-card-interest-rate-reduction-scams If however, the call was a robocall (computer generated) then it is illegal to sell services and a complaint can be filed here:https://www.consumer.ftc.gov/articles/0259-robocalls
Customer: replied 1 year ago.
The calls were not computer generated. I spoke with the customer service representative and we had a conference with this credit card services company (KWP). I am just afraid that I do not know anything about them and what if they dont promise what they offer.
Expert:  LegalGems replied 1 year ago.
If they promised a rate reduction and this was obtained, and written verification was received from the independent credit card companies lowering the APR then it would appear that they complied with the contract. However, if there was NO confirmation by the actual credit card companies then I would be concerned it is a scam as mentioned above.