The Customer Financial Defense Bureau filed a lawsuit Wednesday versus Freedom Debt Relief, the nation’s largest debt-settlement companies, and its co-CEO Andrew Housser for apparently tricking consumers.
The CFPB stated that Freedom Debt Relief charged consumers without settling their debts as promised, made consumers negotiate their own settlements and deceived customers about its charges.
The business, an unit of Flexibility Financial Network in San Mateo, Calif., also failed to inform clients of their rights to funds transferred with the business, the CFPB said.
In 2009, Flexibility entered into to a permission judgment with California regulators for making untrue or deceptive declarations to customers, taking part in illegal company activities and overcharging fees. To settle the charges, Brad Stroh, Freedom’s other co-CEO, and Housser concurred to designate$500,000 to refund customers and$ 450,000 to regulators, according to the permission judgment. Growing your business with HECMs can be an easy item expansion with substantial results Partner Insights Sponsor Material From: