U.S. Consumer Bureau Files Lawsuit Against Nevada Debt-Relief Firm

August 20, 2013

The U.S. Consumer Financial Protection Bureau is taking Morgan Drexen, a Nevada-based debt settlement company, to court for allegedly imposing improper fees and misleading the public about its services. The federal watchdog agency alleges that Morgan Drexen charged upfront fees for debt relief services, even though firms are not allowed to collect such payment until after they have helped to settle or lower a borrower's debt. The company also is accused of deceiving consumers into believing they would be debt-free after a few months of the company's services.
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