Get Out of Debt Guy - Steve Rhode

CFPB Discloses Why People Complain About Debt Settlement and Credit Repair


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.

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