Four “debt negotiation” companies have settled government charges that they acted improperly by promising consumers debt services they could not provide. The companies will cease operating and pay more than a quarter-million dollars in fines.
The companies involved are National Support Services LLC, Homeland Financial Services LLC, Financial Liberty Services LLC, and United Debt Recovery LLC.
The Federal Trade Commission (FTC) was the lead agency involved in reaching a resolution with the companies. The settlement allows the companies and individu
als to avoid trials or even an admission of guilt. The government agency will also be permitted to monitor future actions from the accused.
We often warn consumers about aggressive “credit repair” specialists and others who claim to have more authority to help consumers with burdensome debt. The federal government’s communications group, the FCIC, has great advice detailing your rights and suggestions for getting out of debt.
As consumers greet the continuing collapse of Wall Street and supposedly safe investments, in addition to bank failures, there is no shame and should be no fear in contacting your bank or other creditors. The information at this site will show you how.
Posted under Finance
This post was written by George Bounacos on September 28, 2008
