S1310/A4598 Will Harm NJ Consumers
S1310/A4598 will hurt New Jersey consumers by legalizing debt adjustment, also known as debt settlement. Debt adjustment is one of the worst options for people in debt.
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Why Debt Settlement is Bad for People in Debt
Debt settlement doesn’t work. It hurts people in debt. And it hurts businesses too. This document lists the many reasons why consumers should avoid debt settlement companies and why state legislators should do more to restrict it.
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Advanced Notice of Proposed Rulemaking on the Fair Credit Reporting Act (Regulation V); Identity Theft and Coerced Debt: Comments to the Consumer Financial Protection Bureau
In response to the Consumer Financial Protection Bureau’s (CFPB) Advance Notice of Proposed Rulemaking regarding the Fair Credit Reporting Act (FCRA) and coerced debt, a coalition of organizations, including the National Consumer Law Center (NCLC), the Center for Survivor Agency and Justice (CSAJ), and the National Coerced Debt Working Group (CDWG), alongside numerous state and…
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Testimony Against Washington Debt Adjustment Bill HB 1599
NCLC urges the Washington state House of Representatives to oppose HB 1599. This bill will substantially weaken Washington’s protections against unfair debt adjustment (debt settlement) services.
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Comment on Proposed Amendments to Wisconsin's Debt Adjustment Services Rule
NCLC and AARP Wisconsin agree with the proposal to limit debt adjustment fees to a percentage of savings, but 30% is too high. NCLC and AARP Wisconsin also recommend more robust annual data reporting, prohibiting licensees from advising consumers to default on debts, and adopting other protections found in the FTC’s debt relief services rule.
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Joint Comments to California Department of Financial Protection and Innovation on Proposed Debt Settlement Rules
Joint comments to the California Department of Financial Protection and Innovation were submitted on proposed rules that would require debt settlement providers to register and submit annual reports on their operations.