The Department of Justice made some very uninformed statements about debt settlement, like “Fraudulent debt relief companies will often make claims of being able to negotiate a one-time settlement with creditors that will reduce a consumer’s principal by fifty percent or more.” You can read the full post here.
I brought these problems in the post to the attention of the DOJ and I even called them about it. Today they appear to not have made any changes. – Source
Well the AFCC (American Fair Credit Council) sent me a copy of their statement to the DOJ. Let me summarize their September 4th letter:
Dear Attorney General Holder,
You can read their entire statement, here.
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