debt settlement cons

How Debt-Settlement Companies Skirt New FTC Rules

The Federal Trade Commission's telemarketing rules aim to protect consumers from debt-settlement companies that charge upfront fees or overpromise results. But some companies already have found ways to get around those rules, consumer groups warn.

Losses Mount at Debt Settlement Firms

Next month, debt settlement firms will no longer be able to collect advance fees from consumers seeking to escape their credit card debts. In the meantime, unlucky debtors are reporting losses as the firms begin to go belly up, taking their fees and deposits with them.