Tuesday, April 05, 2005

credit counseling companies

The testimony listed several Commission actions, including a
November 2003 lawsuit against AmeriDebt – a large, Maryland-
based credit counseling firm that, according to the FTC’s complaint,
aggressively advertises itself as a non-profit dedicated to assisting
consumers with their finances. The FTC complaint further alleges that
AmeriDebt advertises its services as “free,” when in fact the company
retains a consumer’s entire first payment as a “contribution.”


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