A debt settlement salesperson’s handwritten journal just landed in federal court. What it reveals about the person on your call changes how to hear the pitch.
California’s DFPI is actively hunting deceptive debt settlement companies — and the junk mail you almost threw away could start an investigation.
Every week, federal courts give us a window into what people experience when debt relief goes wrong. Here’s how I’m making that information useful — for consumers evaluating companies and for companies reviewing their compliance.
Quick Answer: The CFPB proposed requiring nonbank financial firms, including debt relief companies, to register when subject to consumer protection orders and publish this information in an online registry. This new rule would help identify repeat offenders and ensure supervised companies comply with their consumer obligations through designated attestation requirements.Today, the Consumer Financial Protection Bureau …
Quick Answer: Debt validation is not the miracle solution many companies advertise, as experts Steve Rhode and Damon Day explain in their analysis. While debt validation has legitimate uses, aggressive sales pitches often oversell its effectiveness and leave consumers worse off than alternative debt relief strategies.Some companies love to sell debt validation as a miracle …
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