Consumer Law

Warning About Debt Reduction Or Debt Settlement Companies

By M. Stan Herring

Our friend Denise Richardson has an interesting post about how Credit Solutions, supposedly the largest debt settlement company in the nation, is being sued for allegedly misrepresenting what it can do for consumers. With so many consumers facing crushing debt, there is a huge marketing campaign ongoing for debt settlement companies. While I'm sure there are some good ones, we typically hear of the bad ones who take consumers' money and provide nothing in return other than a destroyed credit report and, usually, default judgments when the consumer is sued. If you are considering using one of these companies, make sure you understand what you are "buying" and what they are "selling".

Full post as published by Alabama Consumer Blog on August 08, 2008 (boomark / email).