subject: Debt Settlement - How The FTC Tightened Restrictions On The Debt Industry [print this page] Debt settlement is a very important term in the present world and has become an intense concept along with the present world financial crisis. Many consumers are in a constant search for the best debt relief options that can lead them out of massive debts. So, debt settlement companies are highly in value. But, every settlement company does not provide consumers with expected results. In fact, there are many fraudulent relief services disguised as outstanding debt reducers promising success.
Therefore, the FTC or the Federal Trade Commission of the United States has come out with a great plan that can lead not only consumers but also legitimate debt relief services towards success. Under the latest measures by the FTC, debt settlement is regulated and it is stated that no legitimate relief service provider can charge any upfront fee from consumers. There weren't such regulations before and many consumers faced enormous worries due to fraudulent relief services.
But, today these latest inventions have relieved consumers in a great deal. These new measures have thrown fraudulent debt relief services out of track while the most legitimate and proven settlement companies are invited to perform under supremacy. Therefore, these new laws have certainly become confidence boosters for debt ridden consumers who live in the present world.
Due to these restrictions done by the FTC, consumers are also able to select the best companies with ease. Therefore, one may name these measures as perfect relief options in the present world that provide consumers with much cushion when it comes to the point of eliminating massive debts.
Getting out of debt is not impossible but it will not happen over night. Consumers who are serious about debt relief need to be determined. If you have over $10 k in unsecured debt you should really consider debt settlement. Consumers can expect to realistically eliminate 60% of their unsecured debt with a settlement.
Debt Settlement - How The FTC Tightened Restrictions On The Debt Industry
By: Bowen Alfie
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