Federal Government Credit Card Debt Relief Laws Changed in October – Obama Administration Tightens Rules on Debt Settlement
Posted on | November 15, 2010 | No Comments
On October 27, 2010 the Obama administration greatly tightened the rules when it comes to credit card debt relief and debt settlement. Federal government credit card debt relief laws changed in favor of customers as there will no longer be upfront fees that can be charged on this type of service.
While many people are struggling to make ends meet when it comes to money they continue to search for a government credit card debt relief program or Obama debt settlement help. It is very important to recognize that neither of these types of programs exist and any company that advertises Obama or government approval will receive harsh punishment in the very near future.
The FTC has worked very hard to clean up this industry as millions of Americans are looking for a way to get out of high interest rate credit card debt. Rather than just handing money to a debt relief company it is always advisable to do research and understand the rights and regulations when it comes to getting out of high interest rate credit card debt or personal loan debt.
By doing this extra research and homework many Americans could end up saving a significant amount of money in the future. Rather than paying all those upfront fees and handing cash to a company that is not really providing a service that will be the case that smart customers will think twice about just giving their money away. With money hard to come by in the current economic environment there is no reason to just hand this extra cash to a company looking to make a quick buck.
There are also many free resources on the FTC website to help Americans better understand how to budget their money. Rather than spending more than we save it is always a very good idea to create a weekly and monthly budget and make sure there is more money coming in than going out. This will help many Americans avoid the process of going through debt relief or debt settlement.
Author: Mike Garner
Tags: debt relief plans > debt relief programs > federal government debt relief > government debt relief > obama debt relief > obama debt relief programs > obama debt settlement plans
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