Madigan: Consumer Debt Complaints Still High
CHICAGO (WBBM) -- While the markets may be improving, consumer debt problems remain the number one consumer complaint into the Illinois Attorney General.
As WBBM Newsradio 780's John Cody reports, Attorney General Lisa Madigan says her office has received 7,000 complaints about debt – either foreclosures, collection agencies, credit cards, or lately, debt settlement operations.
LISTEN: Newsradio 780's John Cody reports
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"Millions of people are struggling with their credit card debt, and it sounds great – who wouldn't want to sign up to have their debt reduced by 50 percent?" Madigan said. "The reality is, it's like dieting. There's no easy out. You've just got to do the work. You've got to get on a payment plan."
Madigan says a law she sponsored prevents debt settlement operations from charging up front, but some still do by calling the payment a legal fee.
