The CFPB took a look at complaints it has received and shared why most consumers seem to complain about debt settlement and credit repair services. The Consumer Financial Protection Bureau said:
“Excessive fees for debt settlement and credit repair services: Of all complaints marked as other financial service, 60 percent of them were about problems consumers had when dealing with debt settlement and credit repair companies. These complaints often had to do with consumers being charged upfront fees when using these services. Charging upfront fees for these services is generally prohibited by existing law.” – Source
I remain just stunned the companies who receive complaints from consumers, just don’t refund the consumer rather than letting it escalate.
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.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
- 5 Debt Mistakes That Can Cripple Your Event Business - December 7, 2021
- Thomas Lynch in Orange County Jail - December 7, 2021
- Get Out of Debt Book Club – Chicago and its Cesspools of Infamy - December 6, 2021