The Federal Trade Commission- America's federal consumer protection agency has recently issued new guidelines in the domain of Telemarketing Sales Rules hence affecting the debt relief industry. The changes made are expected to be followed by companies providing debt settlement programs and debt settlement services in USA. The consequences of these changes are expected to bring more transparency and authenticity into the industry.
One of the major changes brought by the new guidelines is that now the debt relief agencies would not be allowed to charge upfront fees on the phone for their services and also it mandates them to disclose to their clients the cost of services involved, the probable consequences, information about the dedicated accounts and the implications arising out of the services they will be providing to their clients. Another change issued in the TSR is that both the inbound and the outbound calls are too subjected to the telemarketing regulations.
When it comes to credit card debt settlement, debt help, Debt Relief Services, Business Debt Settlement, debt relief help, credit counseling debt settlement the rules must be observed as stringently as possible. As otherwise it can make an already bad situation go worse. With the agencies exploiting the loopholes in the laws, the debt settlement industry is now inflicted with many ills that need to be taken care of.
With the new rules and regulations from the Federal Trade Commission much of the fraudulent services would be checked. It is always better to deal with a firm that helps its clients to settle their debt in the most effective and ethical way possible and disapproves of misleading and deceptive marketing techniques. Also they should discourage their clients from unhealthy practices and believes that the best way is the way of the law.