Worst Week Ever For Debt Settlement Industry

It may have been a rough week for Comcast and Goldman Sachs, but the debt settlement industry arguably faced even worse luck.

It started with the Government Accountability Office issuing a report that said the firms misled consumers. Next, a pair of Senators introduced a bill to regulate the industry. And yesterday the Better Business Bureau joined in on the dogpile wih a press release warning people of the dangers of going the debt settlement route.

If you’ve used debt settlement, how did it turn out for you?

Debt-settlement firms misled consumers, GAO report says [Washington Post]
Schumer: Debt Settlement Scams Take Consumers’ Money… [Senator Charles E. Schumer]
Complaints to BBB Against Debt Settlement Companies On the Rise [Better Business Bureau]
(Thanks, Alison!)

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