June 12, 2009

Jeffrey Tenenbaum quoted in the New York Times on the state of the debt settlement industry

1 min

Venable partner Jeffrey Tenenbaum was quoted in a June 10, 2009 article in the New York Times regarding the pressures and challenges facing the debt settlement industry. The Times article, titled "The Debt Settlement Industry Is Busy, But It’s a Bit Nervous, Too," covered a conference held in Chicago by the United States Organizations for Bankruptcy Alternatives, a trade association for the industry. Jeffrey Tenenbaum was speaking at the conference, along with Jonathan Pompan.

According to the article, the debt settlement industry is in the cross hairs of the Federal Trade Commission, state regulators, members of Congress, and state legislatures.

Noting "the legal firestorm that has subsumed the debt settlement industry" in recent years, Jeffrey Tenenbaum, who represents dozens of settlement firms, warned that many companies could be "legislated, regulated or litigated out of business."