Debt Settlement Crackdown – New FTC Restrictions Coming Soon
If you’ve read a few of our recent posts regarding the Debt Settlement industry you know that those services have been under severe scrutiny as of late.
It was announced recently that the FTC will begin imposing new restrictions on the Debt Settlement practice due to widespread abuse against consumers who were struggling during our recent economic downturn. Continue reading “Debt Settlement Crackdown – New FTC Restrictions Coming Soon” »
Government Debt Bailout? Not so Fast!
There is no Government Debt Bailout when it comes to consumer credit card debt! There are many ads from various Debt Settlement and other companies that mention to take advantage of such debt bailout programs by calling their number.
Remember that it wasn’t too long ago that the Government released its warning about the debt settlement industry…take a look at this past blog post warning of debt settlement: Continue reading “Government Debt Bailout? Not so Fast!” »
Debt Settlement Article on MSNBC Red Tape Chronicles
Good Morning,
I read this article this morning and wanted to post a link to it.
Bob Sullivan, a Consumer Rights advocate and whistle blower on scams and internet fraud has written an article on one mans experience with a debt settlement service known as Debt Settlement USA. Continue reading “Debt Settlement Article on MSNBC Red Tape Chronicles” »
Payday Loan Pitfalls
Need fast cash? Can’t wait until payday?
Perhaps that should read; Need fast cash? Can’t wait until payday? Borrow money for only 500% interest. (Payday Loan Fees can run between 390 to over 780% APR depending on the lender) To put it in perspective a Credit Card issuer typically will charge between 10 to 25% APR. Continue reading “Payday Loan Pitfalls” »
Government Warnings about Debt Settlement Industry
Warnings about Debt Settlement Companies
When the Government Accountability Office (GAO) testified before the US Senate last month about their undercover investigation of 20 of the debt settlement companies that advertise the most across the country, it came as no surprise to credit counselors—as well as other nonprofit organizations trying to help consumers recover from financial challenges—that they found “fraudulent, abusive and deceptive practices” prevailed in the industry. For details, see www.gao.gov/products/GAO-10-593T. Continue reading “Government Warnings about Debt Settlement Industry” »