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Is Debt Settlement Legit?

Titan Consulting

Multiple state and federal agencies strictly regulate the debt settlement industry. All types of debt relief programs come with negative consequences, including non-profit credit counseling and bankruptcy, and will directly or indirectly negatively impact your credit score. State and Federal Regulations for Debt Settlement.

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North Carolina AG Permanently Enjoins Debt Settlement Business

Collection Industry News

On May 26, 2022, the North Carolina Attorney General (NC AG) announced that it obtained a default judgment against a California-based debt settlement business, and its proprietor. and North Carolina’s Unfair and Deceptive Trade Practices Act, N.C. 14-423, et seq. , View source.]. View source.].

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National Debt Relief Review

Better Credit Blog

Rated the best debt relief company on Trustpilot. A Guide to Debt Settlement Services. If you’re on the brink of bankruptcy, a final option before filing is to try the services of a debt settlement firm. As Experian notes , “Debt settlement is a risky process with no guarantee of success.”.

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Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. What Are the Strategies to Get Out of Debt?

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On November 10, the Federal Trade Commission (FTC) issued a policy statement, asserting its intention to renew and broadly apply its Section 5 authority under the FTC Act to challenge the “full array of anticompetitive behavior in the market.” For more information, click here. Prop 209 is expected to become law in January 2023.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On February 15, the CFPB published a blog recounting its action against a student loan debt relief business and a debt-settlement company. The CFPB alleged that the defendants charged thousands of consumers with federal student loans approximately $9.2 For more information, click here.

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Tips For Credit Card Debt Relief

Sawin & Shea

Also know that there is no legal protection from creditors in a debt management plan. Debt Settlement. Debt settlement is an option, but it should be the thing you consider last because it generally requires you to default with your creditors first. Consolidation Loans. Credit Balance Transfers.