Tuesday, August 3, 2010

Baltimore Sun article on FTC's debt settlement ruling

A great article by Eileen Ambrose on the FTC's ban on advance fees for debt settlement.
"It's a huge victory for consumers," says Marceline White, executive director of the Maryland Consumer Rights Coalition, which advocated for a similar fee ban this year in Maryland.

Until now, the debt settlement industry has grown leaps and bounds without much oversight. An increasing number of consumers have turned to these companies, which claim they can negotiate with creditors to accept half of what's owed or less. ... Full story here.

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