Credit and Debt Relief Advertising: The Decisions That Matter
Advertising for credit repair, debt settlement and lending products.
Samir Haddad
At a glance
- Truth in Lending credit advertising triggers disclosure requirements
- Telemarketing rules restrict advance fees for debt relief services sold by phone
- CFPB supervises consumer financial products and marketing
- Claims results and savings claims need substantiation
Why it matters
Why it matters: These categories have specific federal rules, including restrictions on advance fees and required disclosures.
Best practice
- Include required credit disclosures
- Avoid advance fee arrangements where prohibited
- Substantiate savings and outcome claims
- Keep marketing records
- Get specialist legal review
Common pitfalls
Watch out for:
- Guaranteed debt reduction claims
- Hidden fees and terms
- Implying government affiliation
- Copying competitor claims
When to call in a specialist
Bottom line Bring in help before marketing financial relief services.
Where this comes from
- Consumer Financial Protection Bureau — Compliance resources
- Federal Trade Commission — Advertising FAQs: A guide for small business
The figures and practices above come from the sources listed.
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