CHICAGO (WBBM NEWSRADIO) — The City of Chicago’s Law Department has filed a complaint against two debt resolution companies, Monarch Legal and Strategic Financial Solutions, as well as Monarch Owner Timothy Burnette.
City lawyers accused the companies of fraud and victimizing working people.
Assistant Corporation Counsel Rachel Granetz said the firms allegedly promised to help clients get out of debt for a fee, but often left them worse off.
Meanwhile, they allegedly did little or nothing to resolve the issues.
“Generally, debt resolution programs pose a lot of risks for consumers, which is why consumer protection regulators at all levels of the government have been stepping in and looking closely at this area,” Granetz said.
Granetz said clients reported that when they were sued for nonpayment, the firms left them to defend themselves.
The City of Chicago is seeking fines and restitution, Granetz said. They want the customers made whole.
Related
Related
Listen to WBBM Newsradio now on Audacy!