Sentences with phrase «efforts on consumer debt»

And, focus your debt elimination efforts on consumer debt, such as credit card debt.

Not exact matches

h) the effect of the services on collection efforts of the creditors of the consumer or their debt collectors.

Wage garnishment is essentially a last - ditch effort for creditors to collect on a debt by hitting the consumer where it hurts — in the paycheck.

While the Consumer Federal Protection Bureau is expected to scale back on enforcing consumer protection statutes, the FTC has increased their efforts to target debt relieConsumer Federal Protection Bureau is expected to scale back on enforcing consumer protection statutes, the FTC has increased their efforts to target debt relieconsumer protection statutes, the FTC has increased their efforts to target debt relief scams.

The NCLC concluded that debt settlement companies use «a business model that is inherently harmful to consumers» because consumers are required to pay high fees for debt settlement programs that they are unable to complete, resulting in increased collection efforts and growing debts while their creditors continue to pile on fees and interest accrues.

Below are the questions which AFCC has laid out on its own in its efforts to successfully guide consumers to the most favorable outcome when enrolling in a debt settlement program.

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.

A consumer with crippling debt would, therefore, focus efforts on the inexpugnable, and reserve bankruptcy for everything else.