Federal Government Credit Card Debt Relief – Plans and Programs See New Rules with Debt Settlement

Posted on | August 20, 2010 | No Comments

Federal government credit card debt relief has been a very hot topic over the last several months but it is very important for borrowers to understand that there are no such things as government credit card debt relief plans or programs. The companies that create debt relief plans and programs are going to see rule changes when it comes to debt settlement and debt relief later in 2010.


It is now the case that credit card debt relief companies can no longer charge upfront fees. This will be a drastic difference from years past as many credit card debt relief companies made a significant amount of money on upfront fees. Now it will be the case that they must provide this service before charging any type of fee.

With this being the case it will be very interesting to see how the credit card debt relief industry adjusts. Many feel that there will be some credit card debt relief companies that cannot survive as they made a bulk of their profits off of upfront fees. It will also be the case that the FTC will start enforcing marketing rules and regulations as well as these companies can no longer claim to have government or Obama approval.

Author: Heather Best

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