TITLE

DEBT SETTLEMENT: Fraudulent, Abusive, and Deceptive Practices Pose Risk to Consumers

PUB. DATE
April 2010
SOURCE
GAO Reports;4/22/2010, preceding p1
SOURCE TYPE
Government Documents
DOC. TYPE
Article
ABSTRACT
The article discusses the investigation of the U.S. Government Accountability Office (GAO) on debt settlement companies involved in abusive, fraudulent and deceptive practices. GAO found that 17 out of 20 companies are collecting fees before settlement of consumer debts, a practice considered by the Federal Trade Commission (FTC) as harmful. Almost all of the companies recommend the consumers to stop paying their creditors such as current accounts.
ACCESSION #
50303144

 

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