subject: Debt Relief Act 2010 - Why The Benefits Of Debt Settlement Now Outweigh The Risks [print this page] Debt Relief Act 2010 - Why The Benefits Of Debt Settlement Now Outweigh The Risks
The debt relief act is a very important step kept towards relieving consumers from massive debts. It was dominated by many fraudulent companies in the past that do not function as expected. But, with the intervention of the Federal Trade Commission of the United States things have changed. Now, consumers are able to gather their hopes and expect better deals that may help them out of trouble.
Through the new laws, mainly collection of any upfront fees has been banned. It is an unlawful act and can result severe penalties. This has certainly made the important turn within the field raising consumer expectations towards a promising level. Furthermore, the introduction of new laws has eliminated the chances of fraudulent relief services to make a living.
It is mainly because the best companies are being encouraged and the fake ones are not. This fact itself has provided more stable ground for the most legitimate settlement companies that really expect consumer relief. Therefore, it can be certainly stated as a method which has gained much reputation during the recent past.
With the new laws that are implemented by the FTC many legitimate companies have gained much procession within the field because this has certainly been a treat for them. The situation is similar for consumers as well. With the introduction of the new laws they have gained better access towards the pioneers of the business.
Therefore, it is very much clear that the benefits of debt settlement once enhanced by the debt relief act in 2010 have certainly outweighed the risks of bankruptcy.
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. To find the best performing debt settlement companies in your state use the following link:
