punishmentYou’ve heard the saying, “If it sounds too good to be true, it usually is.” This was a catchphrase used by the Better Business Bureau to alert the public to shady business practices. And it definitely applies to the most recent deceptive practices of FDN Solutions, a debt settlement company that made wildly exaggerated claims about how it could help reduce people’s debts, typically by 40-60%.

The Federal Trade Commission cracked down on this company, who advertised through Google as 1800debtsettlement.com and everestdebtrelief.com. The FTC charges that consumers ended up paying fees totaling at least 30% of the supposed 40-60% ‘savings’. The judgment against the company totals $3.3 million.

The FTC warns consumers seeking help with debt to be suspicious of anyone who advises them to stop paying their bills or stop talking to their creditors. Also be careful about paying for assistance before you receive it. The FTC’s Telemarketing Sales Rule prohibits companies that sell debt relief services over the telephone from charging fees before they settle or reduce a consumer’s debt.

At Michigan Consumer Credit Lawyers, we want you to know that there are a lot of shady debt settlement or credit repair companies out there, and you should know your rights before paying money to one. Under federal laws, the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, you have protected rights when dealing with your debt and your credit reports. We can help you navigate the laws and we do it all for FREE. No upfront costs for services, no false ‘savings’ promises. We protect you and your rights.

And remember, here at Michigan Consumer Credit Lawyers we can fix your credit report errors for FREE. We file the dispute letters for you, and get errors removed from your credit report. Our services are free to consumers, as the credit agencies must pay our costs and fees.

We also fight the debt collectors that wish to harass and intimidate consumers, and we do it all for FREE. We make them stop the harassing calls immediately and get you paid for damages. The consumer walks away with a measure of justice and a check from the debt collector. In our office, we often are able to have the debt reduced or eliminated as well.

Gary-Standing-NiceIf you have been victimized by a debt collector or have items on your credit report that are incorrect, call or email Attorney Gary Nitzkin for a free consultation at (888) 293-2882. For more information about your credit rights as a consumer, visit our blog at www.micreditlawyer.com/blog. Visit our website at www.micreditlawyer.com for informative, how to videos on consumer financial protection.