Sentences with phrase «claims about debt settlement»

A court in Texas a just issued an opinion that appears to fly in the face of the FTC Telemarketing sales rules claims about debt settlement program performance statements.

Not exact matches

Debt settlement companies do a lot of advertising and make claims about how easy it is to free yourself from a mountain of dDebt settlement companies do a lot of advertising and make claims about how easy it is to free yourself from a mountain of debtdebt.

The primary consumer protection problem areas that have given rise to the States» actions include: (1) unsubstantiated claims of consumer savings; (2) deceptive representations about the length of time necessary to complete a debt relief program; (3) misleading or failing to adequately inform consumers that they will be subject to continued collection efforts, including lawsuits, and that their account balances will increase due to extended nonpayment under the program; (4) deceptive disparagement of consumer credit counseling; (5) deceptive disparagement of bankruptcy as an alternative for debtors; (6) lack of screening and analysis to determine suitability of debt relief programs for individual debtors; (7) the collection of substantial up - front fees so the debt relief company gains even if it fails to perform; (8) lack of transparency and information for consumers as to payment of fees, status of accounts, and communications with creditors; (9) significant delays in active negotiation or engagement with creditors, coupled with prohibitions on direct consumer communications with creditors; and (10), in the case of debt settlement companies, basing savings claims (and settlement fees) not on the original account balance, but on the inflated amount due (including late fees and default rates of interest) at the time of settlement.

It is not uncommon to see debt settlement sites make claims that debt settlement is faster, cheaper and preferential to bankruptcy without giving consumers the facts about bankruptcy in order to make an informed decision.

We urge you to contact our lawyers about personal and corporate proposals, arranging informal settlements with your creditors and if necessary, defending claims by your creditors on guarantees or other debt instruments.