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ABC 7 Runs Story on Big Crackdown on Debt Relief Companies

WXYZ just ran a story warning warning consumers to beware of debt settlement companies that charge fees. It was yet another public notification that things in the debt settlement world when it comes to fees are going to change on October 27, 2010. The more that message can get out there, the better.

As more of this media coverage continues it may make it harder for lawyers that want to try and side-step the advance fee ban. More and more consumers are going to be aware that debt settlement companies should not charge fees up front and will balk at those that will.


READ  Texas Attorney General Office Speaks Up to FTC to Please Ban Advance Fees



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  • I’m certainly not a proponent of the front loaded fee structure however, these folks act as if the funds being gone was a surprise….. let’s see $1000 per month for 8 months and then they checked the account? Racked up the debt to put themselves through school?? My bet is they heard about the rule change and are looking to get their dough back.

    Mike Reilly
    Emerge America

  • I’m certainly not a proponent of the front loaded fee structure however, these folks act as if the funds being gone was a surprise….. let’s see $1000 per month for 8 months and then they checked the account? Racked up the debt to put themselves through school?? My bet is they heard about the rule change and are looking to get their dough back.

    Mike Reilly
    Emerge America

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