Wednesday, June 16, 2010

Consumer and Privacy Groups Support Senate and House Bills to Curb Debt Settlement Abuses

Please call your senators and member of Congress and urge them to co-sponsor or support this important legislation!

With unemployment high and many families struggling with their finances, debt settlement firms are aggressively advertising on the radio, television, and the Internet that they can help by “eliminating your debts.” However, consumer groups [including MCRC] warn that using debt settlement services often leaves people deeper in debt rather than debt-free.

They are calling on Congress to act quickly to enact S. 3264, the Debt Settlement Consumer Protection Act of 2010 sponsored by Senators Charles Schumer (D-NY) and Claire McCaskill (D-MO) and H.R. 5387, the companion bill sponsored by Representatives Louis Gutierrez (D-IL), Keith Ellison (D-MN) and Gwen Moore (D-WI). This legislation will protect consumers who are deeply in debt and desperately looking for solutions from deceptive practices and misconduct in the debt-settlement industry. Read more here.


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