Household and credit card debt is at an all-time high. So it
should come as no surprise that debt-relief legal and regulatory
issues are back in the spotlight. The Consumer Financial Protection
Bureau (“CFPB”) will host “Evolutions in Consumer Debt Relief” on
March 10, 2020. The CFPB says the event will explore options for
consumers facing unmanageable unsecured debt and limited credit
options.
Generally speaking, debt relief services are any program or
service that offers to change the terms of a debt between a person
and one or more creditors or debt collectors, including a reduction
of the loan balance, interest rate, or fees owed. Different kinds
of companies may promote or offer to assist consumers in obtaining
relief from different kinds of debt, including credit card debts,
home mortgages (referred to by the CFPB and Federal Trade
Commission (“FTC”) as Mortgage Assistance Relief
Services or “MARS”), student loans, payday loans, car
loans, or tax debts. There
