fbpx

MN Attorney General “Debt Settlement Companies Really Put People Into a Financial Death Spiral”

I spotted an article “New Law Tightens Rules for Debt Firms” in which the Minnesota Attorney General, Lori Swanson, does not mince words about the problems she see with debt settlement companies. You can read the full article here.

Consumers need to go into these transactions “with their eyes wide open,” said Elwood. Once they sign with a debt-settlement company, many consumers don’t realize their bank accounts and wages can still be garnished, they can be sued and have judgments placed against them. And creditors can still call them.

“Debt-settlement companies really put people into a financial death spiral,” said Attorney General Lori Swanson, whose office played a prominent role in getting the legislation passed. “They get further and further behind and it’s hard to get out.”

Sincerely,


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Do you have a question you'd like to ask me for free? Go ahead and click here.
Get Out of Debt Guy – Twitter, G+, Facebook

Follow Me
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.
Steve Rhode
Follow Me

1 thought on “MN Attorney General “Debt Settlement Companies Really Put People Into a Financial Death Spiral””

  1. I’m from MN and the AG is strict on DS companies. Last year she sued a couple of them. She also sued the National Arbitration Forum. That made headlines everywhere.

    In regards to debt settlement, she is absolutely correct. I appreciate you continuously educating the readers about debt relief.
    .-= Boun V´s last blog ..Who can offer help with debt problems? =-.

    Reply

Leave a Comment