subject: Credit Card Debt Relief Act 2010 - How To Take Advantage Of It And Eliminate Your Debt [print this page] Credit Card Debt Relief Act 2010 - How To Take Advantage Of It And Eliminate Your Debt
Credit card debt relief act 2010 has made a revolutionary change in the sector of debt in the recent times. The federal government was alarmed to take this action due to the arising number of the debtors who get caught to fraud debt relief service providers. This means a loss not only to the individuals but to the state as well. There for this action has been taken rightly and timely.
According this act they have banned all the up front fees that the debt settlement companies were used to charge from the debtors. This was taken as a chance by the fraud companies to earn money for them without providing any service for the customers.
These companies have neither right nor capability of eliminating a debt but they pretend to be so and take money from the debtors with the intention of flying away after that. This was proved to a troublesome issue for many parties; debtors, state as well as the legitimate companies who used to go in the right oath and help the debtors genuinely.
But along with the introduction of the above act, the fraud ones have lost opportunity to mislead the people and now they can be easily recognized among the others. The legitimate companies are confident that they can provide the issue thus they can resist on the field even with these laws.
But the fraud ones being unable to fulfill the debtors need without charging money have no other choice than vanishing out of the scene. Now a debtor can trust the settlement companies and get their job done with a peaceful mind. They will be assured that their debt is settled before they pay money.
But the whole community should be aware of these new tendencies in order to eradicate the menace of fake debt settlement companies in the market.
There is no magic bullet to get out of debt. However, debt settlement can be a viable option to eliminate unsecured debt while avoiding bankruptcy. To locate legitimate debt settlement companies in your state for free debt relief help then check out the following link:
