The Massachusetts company, Cambridge Credit Counseling Corp. (CCCC) settled with West Virginia to refund money to hundreds of its consumers who used this company’s service.
Though CCCC is refunding money because of practices that violated the West Virginia state statues that deal with “debt pooling,” CCCC is not one of the scam companies designed to overcharge consumers and drive them further into debt.
CCCC mainly deals with designing debt management plans for consumers severely in debt. Previously CCCC violated statues by charging upfront fees to consumers and then charging more than 7% of the consumers monthly payment toward their debt.
Now however, CCCC is in compliance with West Virginia’s statues and will refund the $250,000 to consumers and continue their services. ■
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