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Consumer Law

: CL&P Blog

FTC Cracks Down on Debt Settlement Firms

By Greg Beck

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As previously discussed here, so-called "debt negotiation" companies are engaged in questionable practices in the name of helping consumers. David Giacalone's f/k/a blog notes that the FTC recently settled claims against several debt negotiation firms that the FTC says had "led many into financial ruin." The settlement prohibits the companies from engaging in a variety of deceptive practices, including the companies' claim that they could reduce consumers' debt by up to 60 percent.

Full post as published by CL&P Blog on November 03, 2008 (boomark / email).

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