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  • Writer's pictureAaron J. Keller

CFB Cracks Down on Debt-Relief Company

Last month the Consumer Financial Protection Bureau (CFPB) and seven state attorneys general sued a purported debt-relief company, Strategic Financial Solutions, for a variety of alleged illegal activities. According to the CFPB, Strategic Financial Solutions charged illegal advance fees and falsely claimed that lawyers would be providing debt relief.

The important takeaway for anyone in debt and seeking help is to do your homework. If something seems too good to be true, it likely is. When seeking debt-relief assistance, don't pay in advance. Also, confirm who will be working on your behalf and how will they help you achieve debt-relief.

You can read the full press release from the CFPB at this link.

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