Monday, April 04, 2005

credit debt counseling

Testimony Says that Some Firms Are Deceiving Consumers
Although credit counseling can provide financially distressed
consumers with valuable assistance, according to the Federal Trade
Commission, some firms may be misleading consumers about who
they are, what they do, or how much they charge. In Commission
testimony submitted today before the Senate Committee on
Governmental Affairs, the Permanent Subcommittee on Investigations,
FTC Commissioner Thomas Leary cautioned that some companies
use their non-profit status as a badge of trustworthiness to attract
customers, who are then duped into paying large fees. Those fees are
sometimes funneled to for-profit companies.


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