; Debt Settlement Programs 2010
Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out
Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

Debt Settlement Programs 2010

VIEWS: 79 PAGES: 5

How New FTC Laws Make Debt Settlement a More Consumer-Friendly Alternative

More Info
  • pg 1
									Debt Settlement Programs
           2010



 How New FTC Laws Make Debt
 Settlement a More Consumer-
      Friendly Alternative




         By Michael Baker
        Debt Relief Help Now
The Federal Trade Commission imposed
new laws on the debt settlement
companies for debt relief in July, 2010.
According to these new laws, the
consumers don’t need to pay the monthly
amount of debts. These new laws banned
the companies from charging any penalty
or liability on the consumer. In the past,
consumers were filing bankruptcy for the
debt relief which was not a good
alternative for their financial life.




Under the new FTC laws, the debt
settlement programs are more consumers
friendly. debt settlement has become best
option to filing bankruptcy. A consumer
with the assistance of debt settlement
company can easily get rid of the large
amount of unsecured debts and improve
the credit scores. The Federal Trade
Commission implemented these laws for
the benefit of both the debtor and the
creditor.
The government has announced the
implementation of these laws on the
profitable debt settlement companies in
the year 2010. These new rules and
regulations are not applicable for the non
profitable debt settlement companies. The
consumers who have settled their debts
under these new programs are feeling
more satisfied. The legitimate debt
settlement     companies      have     also
appreciated these new laws.



The companies will no longer charge any
advance fee on the consumer according to
the new rules and polices. These
companies will charge the fee when the
debt of the consumer will get settled.
There were many shady and fraudulent
companies working in the past. Those
companies     were     just grabbing the
consumer money. This risk of deception is
now eliminated with the help of new
programs. The shady companies are now
forced to get out of the market.
                    The new Federal Trade
                    Commission laws have
                    claimed     that   the
                    companies will only be
                    able to retain and
                    survive for the long
                    term    if   they  are
saving the consumers debts. Consumers
having ten thousand dollar in debts can
easily apply for the debt settlement with
the help of settlement companies. These
programs involve legal procedures and
practices with the legal representative in
the process.




There is negotiator in the process of debt
settlement. A negotiator is a person who
negotiates with the creditor on behalf of
the consumer. He helps to reduce the debt
of the consumer to almost 50 to 60
percent. This reduction in the debt is not
able to get without the assistance of the
negotiator.
Finding the legitimate debt settlement
company and avoiding the shady company
is also become an easier process now.
There are many free debt relief networks
working for providing consultancy to the
consumer. These networks are affiliated
with    several  legal  debt    settlement
companies. You can easily find the best
suitable legitimate company to get
services. Under the new laws, you can
easily settle the unsecured debts of the
credit cards without any financial risk and
trouble.




If you would like more information on receiving debt
 relief, please visit Debt Relief Help Now and we can
         help guide you to reducing your debt.

								
To top