NY AG Sues Debt Settlement Firms

New York has long been progressive in protecting consumer rights. When Eliot Spitzer was the Attorney General, he went after Wall Street and insurance companies. Now, Andrew Cuomo continues that legacy.
New York’s AG has filed lawsuits against two debt settlement companies, Credit Solutions of America and Nationwide Asset Services. The AG contends that these companies make false and misleading promises. In fact, between 1/3 of one percent and one percent of consumers actually get the savings advertised.
Two important parts of the story:

According to AG Cuomo, “These companies claim to be the light at the end of the tunnel, but
time [...]

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