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Tag Archives: debt relief services

Why People Have a Tough Time Shopping for Debt Help

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The Federal Reserve Bank of Philadelphia published a paper by Stephanie Wilshusen which made some very enlightened observations about why consumers struggle with getting out of debt. In the paper, “Meeting the Demand for Debt Relief” it describes the options available to borrowers who seek assistance in managing their debts and discusses the information and incentive problems associated with these ... Read More »

    Credit Card Interest Rate Reduction Scam Nailed in Canada-U.S. Sting

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    The Federal Trade Commission has reached a settlement with four of the defendants in an allegedly phony debt relief services operation that claimed that, for $995, it would dramatically reduce consumers’ credit card interest rates. Under the settlement, reached as part of the FTC’s continuing efforts against frauds that target financially strapped consumers, the defendants will be banned from robocalling ... Read More »

      Bogus and Scam Credit Counseling Groups Become Target Of Florida Legal System

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      TALLAHASSEE, FL – Attorney General Bill McCollum today unveiled his office’s latest consumer protection initiative in the form of a coordinated enforcement effort targeting potentially improper tactics in Florida’s debt relief industry. In a statewide initiative, the Attorney General’s Economic Crimes Division has taken legal action against five companies and opened formal investigations into the practices of an additional five ... Read More »

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