Debt Settlement Act 2010 What New Laws Mean For Consumers in Debt By Michael Baker Debt Relief Help Now The economic downfall is causing many problems to the living of the common man among which the greatest problem is the credit card debt. Americans are greatly affecting badly by these debts. On July 28, 2010, the government has taken a strong action against these problems affecting the normal man the small businesses. The consumer now can easily get rid of the debt without any trouble and difficulty. The Americans are applying for these programs in great numbers. Due to the increasing unemployment and the lower wages, the Americans were unable to settle and pay the heavy debts. The companies are not allowed to charge any fee on the consumer under the Act of 2010. The companies are not even allowed to charge any penalty or liability on the consumer. There were many shady and fraudulent companies working in the past before the imposition of the new Act of 2010. The fraud companies were working in the market for their own benefit and advantage. This new Act is forcing the fraud companies to go out of the market. Now there is no consumer risk involved in the process. Now consumers can easily apply for the legitimate debt settlement process. If the consumer is having ten thousand dollar in debt, then there is a possibility to reduce the debt under the new FTC laws. There are also many other options available in the market for debt relief. The consumer should not have to fear anymore under the new FTC laws. In 2010, the debt settlement option has become a best option to filing bankruptcy and other options like debt consolidation, credit card counseling, and debt management. These new FTC laws mean a lot to consumer in terms of the debt relief. The legal debt settlement companies have appreciated the new rules and regulations. The shady and the fraudulent companies have claimed that these new laws work only for the benefit of the consumer. These companies claimed that they need money in order to run the accounts of the consumer. There are numerous debt relief networks working online free of charge. You can currently get guidance services from these networks concerning the debt settlement companies. These networks will assist you find the legal company. Apply for the debt relief in these companies to protect your monetary future and company. 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.
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