New York Attorney General Wins $200,000 Penalty Against Debt Settlement Company

Attorney General Andrew M. Cuomo today announced that his office has won a lawsuit against a national debt settlement company, barring the company from doing business in New York state unless it posts a $500,000 performance bond to protect consumers. The decision also levies nearly $200,000 in penalties against the company for defrauding thousands of … Read more

Debt Settlement Company Success Rate Made Public – Sucks

Nationwide Asset Services, a company under investigation by the New York Attorney General, has disclosed that while Nationwide Asset Services promised consumers debt reductions of between 25 to 45 percent, in fact only 64 customers out of 1,981 actually completed the debt settlement plan. This means that 97% of people that enrolled in the debt … Read more