Last week, the CFPB published a blog post with tips for consumers facing a cash flow emergency.
We were glad to see that the blog post included a warning to consumers about debt relief or settlement companies. The CFPB advised consumers to beware of for-profit debt relief or settlement companies that promise to pay off consumers’ debts for “pennies on the dollar” or charge fees before settling debts, guarantee to eliminate unsecured debt, or tell consumers to stop communicating with creditors.
We hope consumers will heed the helpful advice in the CFPB’s blog post.
