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| FTC Challenges Bogus Debt Negotiation Service |
search: for release: february 13, 2004 ftc challenges bogus debt negotiation service the federal trade commission has charged two debt negotiation companies and their principals with violatingsult of purchasing defendants’ debt negotiation services, consumers’ credit ratings suffered, their total debt increased, and that some consumers even became the target of legal action.m to stop making payments to all of their unsecured creditors and that briggs & baker would prevent further contact from their creditors. briggs & baker purported that its services werers’ creditors to negotiate a settlement. thus, after months of being told that briggs & baker was settling their accounts, many consumers found that creditors had sent their accounts to ationships” with creditors, and represents that consumers who purchase drs’ services will be debt free within three to 36 months. the ftc charges that consumers who use drs’ servicesnces. the commission vote to authorize staff to file the complaint and stipulated final judgment and order was 5-0. the complaint and the stipulated final judgment and order for permanent injunctionnstitute an admission by the defendant of a law violation. a stipulated final judgment and order requires approval by the court and has the force of law when signed by the judge. media contact: jen
http://www.ftc.gov/opa/2004/02/briggsbaker.htm - 10k
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http://www.ftc.gov/opa/2004/02/briggsbaker.htm
2005-12-03 18:50:46
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