The Consumer Financial Protection Bureau released a report documenting changes in how consumers have used debt settlement and credit counseling for unsecured debt.
CFPB reports on debt settlement, credit counseling
July 13, 2020 / By ICBA
The Consumer Financial Protection Bureau released a report documenting changes in how consumers have used debt settlement and credit counseling for unsecured debt.
The Consumer Financial Protection Bureau released a report documenting changes in how consumers have used debt settlement and credit counseling for unsecured debt. The report said nearly one in 13 consumers with a credit record had at least one account reported by creditors as settled or payments managed by a credit counseling agency from 2007 through 2019. Debt settlement and credit counseling became less common after the Great Recession, but settlements are on the rise.
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