Often desperate for help, debtors contact a debt-settlement company to help reduce their payments, stop collections and lower their interest rates. Today’s lawsuit seeks to stop the deception and get compensation for consumers Freedom cheated.”ĭebt-settlement companies are those that promise to reduce or remove consumers’ debt and negotiate more favorable terms for clients, usually in exchange for a set fee. “Freedom deceived consumers about its clout with creditors that it knows do not negotiate with debt-settlement companies, made some customers negotiate on their own, and misled consumers about its fees and their accounts. “Freedom took advantage of vulnerable consumers who turned to the company for help getting out of debt,” asserted bureau Director Richard Cordray. More from Moak: Many Americans face 'rental insecurity' The agency announced the lawsuit Wednesday in a news release, seeking compensation for consumers harmed by the alleged practices, as well as unspecified civil penalties and a court order to stop the company from providing services. The Consumer Financial Protection Bureau has sued the nation’s largest provider of debt-settlement services, alleging that Freedom Debt Relief deceived and misled consumers about its services and fees. Watch Video: What can happen to your debt after you die
0 kommentar(er)
