Debt Settlement Scoundrels

Posted by admin in Debt Settlement on Jul 9th, 2010 | View Comments
And the beat goes on…..

How long will it be until Federal regulation appropriately addresses these problems?  Senator Schumer got the ball rolling on April with S.3264 but it didn’t get passed. Hopefully legislation will be under way during the Fall session. In the meantime, we can continue to raise awareness.

Here are a few indicators that change is in the air.

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Debt Settlement Firms Peddle Relief But Actually Put Debtors In Deeper Hole

“State attorneys general from New York to California and consumer watchdogs, such as the Better Business Bureau, say that debt settlement firms’ proceeds come at the direct expense of financially troubled Americans who are being swindled out of their last dollars with dubious promises, The New York Times has reported.” ….read more HERE

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Be wary of promises from debt relief companies

Millions of Americans are drowning in debt. If you believe the ads — with their bold claims of success — a debt relief company will help you pay off your bills for pennies on the dollar.

The ads are everywhere:

  • “Be debt free in as little as 24-48 months!”
  • “Erase debts 50 to 70 percent or more!”
  • “Legally get debt down to zero.”

It sounds so easy……read more HERE

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Stay focused. Stay afloat. Wealth and freedom are in your future.

Jonathan

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