New rules set limits on debt settlement industry
Companies that promise to reduce or eliminate credit card balances and other debt for customers will no longer be allowed to charge an upfront fee.
The Federal Trade Commission said Thursday that the new restrictions are a crackdown on the debt settlement industry, which flourished during the economic downturn as borrowers struggled to pay bills.
http://bit.ly/aEjHn2
New Rule Cracks Down On Debt Settlement Industry
Companies that promise to reduce or eliminate credit card balances and other debt for customers will no longer be allowed to charge an upfront fee.
The Federal Trade Commission said Thursday that the new restrictions are a crack down on the debt settlement industry, which flourished during the economic downturn as borrowers struggled to pay bills.
http://huff.to/aEJggy
Thinking of debt settlement? New FTC rule can help
Like commercials for weight-loss pills and devices that are supposed to stop your dog from barking, ads for debt-relief companies are a mainstay of late-night TV. Many of these companies claim they can reduce your debt by 50% or more in just a few months.
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