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Monitoring credit card bills may prevent fraud in Massachusetts

One of the most difficult parts of being in debt is negotiating with lenders after a fraudulent charge. When you owe money to creditors, your life can be turned upside down. Harassment from creditors can take a variety of forms, including harassing messages and letters. Unscrupulous companies may try to squeeze as much money as they can out of you. If you are the victim of fraud, it can be hard to receive help from large financial companies. As credit card bills pile up, it's important for you to be on the lookout for fraudulent charges that could increase further fees.

The Better Business Bureau has issued a fraud alert for a hybrid of 230 interconnected sites that charged cards a "fee" of $9.84. The fraudster operated under the idea that many credit card holders would not recognize a small charge and assume it was legitimate. Spotting a charge like that on your credit card statement could mean that someone has your credit card information and is using to charge items.

Even a small fraudulent charge that you miss could add up over time. Being vigilant about examining your financial statements can help you avoid fraud. If you are over your head in debt, one option to consider is a fresh financial start through bankruptcy proceedings. Chapter 7 bankruptcy, which allows you to choose which debts to eliminate. This means that you can often keep assets such as your car and house.

A fraudulent charge can result in a lot of problems if you don't catch it. You should be on the lookout for a charge of $9.84, as it could be a sign your credit information has been compromised. Starting fresh can be helpful if you are in high levels of debt and delinquent on your payments. You can both keep lenders at bay and help to get your feet back on the ground by rebuilding your finances.

Source: CBS News Moneywatch, "Got a charge for $9.84 on your credit card? Beware," Kathy Kristof, Jan. 27, 2014

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