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Washington, D.C. (PRWEB) May 23, 2022 -- Today, the Consumer Debt Relief Initiative (CDRI) — the premier industry organization dedicated to the protection and

ERIKA PAZ CalMatters Before the pandemic, Graciela Gomez relied on two jobs to keep up with her expenses. After losing her part-time job at Macy’s in March 2020, she had to choose between paying off her credit cards or paying her rent. She chose the latter. “I didn’t know who to talk to, who to contact. I was embarrassed,” Gomez said. An ad for a debt settlement company appeared on her social media feed promising to lower her debt. After following up, she says what she got was a lawsuit from one of her credit card companies in March. She’s still fighting t...

I'm not interested. Customers who enroll in a debt settlement plan make a monthly payment to a debt settlement fund. According to Nguyen Orth, debt settlement companies wait until the customer has defaulted on their debts — which can sometimes take up to six months — before they begin to negotiate with creditors.  The defaults must occur before the negotiation process can begin, but the debt settlement companies avoid explicitly saying this, Nguyen Orth said. Debt settlement companies like ClearOne Advantage make money by charging customers a percentage of the total debt owed. In a best ...

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With Consumer Debt Set to Spike, Debt Settlement Industry Launches Consumer Debt Relief Initiative (CDRI) Amidst COVID-19, new trade association will educate Americans about debt settlement and respond to legislative threats News provided by Share this article Share this article WASHINGTON, Jan. 14, 2021 /PRNewswire/ -- Today, the debt settlement industry announced the launch of the Consumer Debt Relief Initiative (CDRI), a coalition of debt relief industry experts advocating for the important option of debt settlement remaining available to consumers burdened by heavy amounts of high-interes...