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Tag Archives: Debt Settlement Up-Front Fees

Debt Settlement Legislation to Prohibit Up-Front or Monthly Fees and Cap Fees at 5%

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Illinois Attorney General Lisa Madigan is backing legislation to ban debt-settlement companies from charging upfront or monthly fees and that caps payments to firms promising to reduce credit card debt. The legislation would cap fees at 5 percent of the savings resulting from settling a debt, rather than a percentage of debt enrolled. It also would allow cancellation of a ... Read More »

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