FTC Issues VNR on Credit Counseling

VNR Features Consumer Testimonial, Advice from Experts on Avoiding Scams

Media Advisory

What:

Produced video news release providing tips on choosing a credit counselor and avoiding credit counseling fraud, featuring Ken Hunter, president and CEO of the Council of Better Business Bureaus, and FTC staff attorney Tom Rowan. The video also tells one victim’s story.

When:

Monday, November 15 and Tuesday, November 16, 2004

November 15:
Time: 2:00 p.m. - 2:15 p.m. EST
Satellite: C-band, IA6 (Formerly Telstar 6), Transponder 14
Downlink Freq: 3980 (H)
Audio: 6.2/6.8

November 16:
Time: 9:00a.m. - 9:15 a.m. EST
Satellite: C-band, IA6 (Formerly Telstar 6), Transponder 14
Downlink Freq: 3980 (H)
Audio: 6.2/6.8

Details:

Story Line Overview for Producers: This video provides important, timely information for consumers on how to avoid credit counseling scams. While credit counseling can give valuable assistance to financially distressed consumers, some firms may be misleading consumers about who they are, what they do, and how much they charge. The FTC has received more than 8,000 complaints from consumers about credit counselors, many concerning high or hidden fees and so-called “voluntary” contributions. This video tells the story of a victim of a credit counseling scam and offers consumers advice on how to pick the credit counselor that is right for them and avoid becoming a victim.

Contact:

Jen Schwartzman
Office of Public Affairs
202-326-2674

Contact Information