A reader forwarded me a copy of this document from the State of Colorado regarding debt settlement. It contains some interesting sections. For example there is this one. Recommendation 2 – Limit settlement fees to 15 percent of the debt forgiven from a completed settlement. “A Settlement Provider negotiates with a creditor to convince it …
This is a story that I’ve been working on for a few weeks. I’ve been asking people and groups for feedback and information to write this, but I’ve run into a wall. I have received some feedback from groups and people that don’t wish to be publicly identified to protect themselves, but what I have …
An interesting article out of illinois, Our Opinion: Put curbs on debt settlement companies, contains a very interesting quote from the Attorney General of Illinois, Lisa Madigan. “What we have learned is that 65 percent of people who initially enroll with debt settlement companies drop out before any communication (with creditors) has been made. Before …
A report on the CBS “Early Show” had some very strong warning about debt settlement companies. Minnesota Attorney General Lisa Madigan said, “You would be more likely to settle your debt by buying a lottery ticket than by signing up with a debt settlement company.” You can watch the report from CBS below.