subject: Federal Debt Settlement Consumer Protection Act - Why Debt Settlement Is Now Legitimate [print this page] Federal Debt Settlement Consumer Protection Act - Why Debt Settlement Is Now Legitimate
If you were hesitating to take up a settlement deal due to the lack of legitimacy, now it is the right time for you to start the game because with the federal debt settlement consumer protection act debt settlement is legitimate & reliable as it was never before.
The new settlement laws are such it allows the debtors of more than $10k in debt to simply enter in to a settlement deal with out even paying any initial payments. In the early stages, debt settlement was well in used but debtors always had the question over the reliability of the settlement companies with which they are working. On this ground certain debtors got caught in to the hands of fraud settlement companies who make money from the pain of the debtors.
But now the settlement industry has approached a new episode becoming rather legitimate and reliable due to the federal debt settlement consumer protection act implemented by the government. This new act includes the establishment of Federal Trade Commission; the institute in charge of debt settlement companies. All the settlement companies in the market need to get registered in this and if not they will be perceived as illegal companies. Thus finding a reliable settlement company is simple as you only needs to find companies which are registered in FTC,
And since the new law doesn't allow any settlement company to charge their customers before their debts get settled at least in half, leaving little chance for fraud companies to trap desperate debtors. Therefore with these new laws, settlement is rather safer and legitimate approach for debt relief!
If you have over $10k in unsecured debt and are currently experiencing a financial hardship then debt settlement can be a viable option to avoid bankruptcy and eliminate unsecured debt.
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