Debt settlement companies have not maintained a favorable reputation within the general community, and for good reason. Factual evidence has been presented to many a federal court as a result of these companies’ bad acts. Because of these bad acts, the FTC enacted new regulations that would prosecute these companies for illegal practices and place […]
Spotting Unscrupulous Debt Settlement Companies
One unfortunate development of today’s volatile economy is that dishonest debt settlement companies now have a larger target market of consumers with debt issues. These companies market their services with only one thing in mind – to swindle consumers out of their hard-earned money. This topic is so important for today’s consumers that Inc. magazine […]
FTC Targets Rogue Debt Settlement Companies
Empowered by newly enacted regulations, the Federal Trade Commission (FTC) is investigating debt settlement companies for suspected illegal practices. The investigations follow the agency’s Operation Clean Sweep in 2009 that worked with 24 state agencies to prosecute companies for violations of the Credit Repair Organizations Act. In addition, the new FTC regulations also reflect many […]
Loopholes to Look Out for in the New FTC Debt Settlement Rules
The New FTC Debt Settlement Rules -Loopholes To Be Aware Of Before You Sign Anything Since 2010, the FTC has updated the rules that debt relief companies are expected to follow. Many of the changes have been positive. Debt relief companies are no longer allowed to charge up-front fees according to the FTC. They are forbidden from […]