Credit debt settlement programs - no upfront fees mean a better deal for consumers

Credit debt settlement programs - no upfront fees mean a better deal for consumers

Credit card debt settlement programs are hot topics on bar stools in the present. There are several reasons for this situation which has compelled consumer attention. As the new laws have played their part in the present world many consumers have considered debt settlement to be a safer option. There was a time when debt relief was much feared by many consumers who were suffering from issues in terms of massive liabilities.

Therefore, they constantly switched on to drastic methods like bankruptcy. However, today there is no need to take risks because authorities have tried a successful effort in shaping out debt settlement in a healthy manner. With the new rules introduced by the Federal Trade Commission of the United States, the collection of upfront fees is illegal.

This has made debt settlement a very important strategy today. Furthermore, the new laws by the FTC declare that all payments by consumers should be done only of they receive a fair deal from a service provider. Therefore, many fraudulent debt settlement companies have faced some tough times today.

They have been thrown away from the track with the new implementations while the most legitimate debt settlement companies are encouraged into the play area. This is a vital move in the field of debt relief which also provides consumers with a sense of relief as they will have less to fear when it comes to the risks posed by fraudulent relief services.

Furthermore, the new rules by the FTC have become very important guidelines for debtors in the present to identify a fake entity from a legitimate one. If a settlement company demands for upfront fees from a consumer it is more likely to fit the frame of a fake establishment which aims nothing more than running away with all your money. So, it is clear that this new scheme which commands no upfront fees has really meant a better deal for a number of consumers who live in the present with the burdens of debt.

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.

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