The Consumer Financial Protection Bureau has started fielding complaints about nonbank products such as debt settlement, credit repair and pawn and title loans.

Debt settlement services commonly promise to renegotiate, settle or change the terms of a person’s delinquent debt owed to a creditor or collection agency. They promise to reduce outstanding balances, interest rates or fees a person owes. Credit repair services promise to improve consumers' credit reports by contacting credit bureaus on the consumer’s behalf and challenging listed items.

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