I recently wrote a review about a new company called Capital Protection Group. It occurred to me as I was working on it how times have changed in the last year.
Debt settlement companies used to say “Credit counselors are working for the creditor, not the consumer.” Debt settlement companies seemed to want to position themselves as the champion of the consumer.
Now, Capital Protection Group, has rolled out a new approach in the debt relief industry, saying “Traditional debt settlement companies are working for the creditors, not the consumer.” – Source
I wonder how the debt settlement industry, and trade associations TASC, and USOBA are going to react to that?
Hopefully soon, groups in the debt settlement and debt relief world will understand I’m not against good companies. I’m against companies which take advantage of consumers by collecting massive fees up front and having no real refund policy and keeping money that wasn’t really earned when the program does not work for the consumer. I apply this point of view across all debt relief companies, be they bankruptcy attorneys, credit counseling, debt management, debt settlement, hucksters, or any variation or combination.
Bottom line, I’m not really against groups of companies as much as I am for consumers getting fair, reasonable, and honest help.
I can’t tell you how much I’d just love to see the debt settlement industry have a public conversation with Capital Protection Group over this new marketing ploy and gimmick. I’d even pay money to watch.
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