Military families already face enough financial challenges without scammers trying to exploit them. Unfortunately, the Federal Trade Commission (FTC) says that’s exactly what’s happening as July’s Military Consumer Month brings renewed attention to fraud schemes aimed at active-duty service members, veterans, and their families.
The latest FTC warning focuses on scammers falsely claiming they can enroll military families in special “military debt forgiveness” programs or exclusive government relief plans that don’t exist. Military-connected consumers reported more than 99,000 fraud complaints in recent years, resulting in more than $584 million in losses. These scams can leave families in even deeper financial trouble while damaging their credit and delaying legitimate debt solutions. Knowing how these schemes work can help you protect both your finances and your family’s future. Here’s what you need to know.
