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Some of those laws also cover your rights as a consumer to fair debt collection practices. A few of the laws that might come into play are as follows: The Fair Credit Report Act ensures your right to an accurate consumercredit profile. It obligates companies to report truthful information on your credit report.
Offers for debtsettlement and debt repayment plans often sound too-good-to-be-true. According to the Consumer Financial Protection Bureau “a U.S. ” “Freedom took advantage of vulnerable consumers who turned to the company for help getting out of debt,” said CFPB Director Richard Cordray. .”
Proposed registration includes debtsettlement services, student debt relief services, postsecondary education financing, and wage-based advances. The post DFPI marks success in implementation of the California Consumer Financial Protection Law appeared first on Collection Industry News. Research and Market Monitoring.
Lawyer-backed credit repair. Lexington Law, a lawyer-backed credit repair company, has been a leader in the industry for nearly three decades. In 2020 they helped remove over 7 million negative items from credit reports for their clients. What can credit repair companies not do? DebtSettlements.
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