Maine Settles With Debt Management Companies

Maine Public Broadcasting Network  
December 18, 2012

The state of Maine has settled with two Chicago-based companies, The Mortgage Law Group and Legal Helpers Debt Resolution, accused of misleading consumers about their debt-management services. Maine Attorney General William Schneider says the companies deceived consumers about the benefits of their programs. The attorney general's office and the Bureau of Consumer Credit Protection contend The Mortgage Law Group and Legal Helpers Debt Resolution did not have offices in Maine, but had established partnerships with attorneys licensed in the state. In the settlement, the firms agreed not to enroll any more Maine consumers in their programs and to stop charging monthly fees to those still enrolled. They also paid $250,000 in restitution to be distributed to 300 Maine consumers and paid $15,000 to reimburse the state for investigative and administrative costs.
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