Federal Government Credit Card Debt Relief Plans Changes – Obama Administration Works with FTC to Regulate Debt Settlement
Posted on | November 16, 2010 | No Comments
As millions of Americans look for help when it comes to money and personal finances it continues to be the case that many of these individuals search for a federal government credit card debt relief plan, program or service. It is very important for all of these hard-working Americans to understand that there is no such thing as an Obama or government debt relief plan.
In fact, the federal government along with the FTC is working very hard to change the rules for credit card debt relief and credit card debt settlement. It is now the case that these companies can not charge upfront fees. Prior to October 27, 2010 all debt relief companies had the ability to charge upfront fees which in turn meant that they could charge for services that were not completed.
Now that the FTC has taken action and will likely be the case that many Americans can avoid scams and other illegitimate companies looking to take their money. With this being the case it is much easier to be 100% confident that a debt relief company is looking out for customers rather than looking to make a quick buck.
Even with this being the case it is always a very wise decision for poor credit borrowers to do research. By having very poor credit many borrowers are very vulnerable as they are willing to do almost anything to reduce high interest rate credit card debt. Before giving any money to a debt relief for debt settlement company it may be wise to access the FTC website and make certain that they have good ratings.
As we get closer and closer to the Christmas holiday it continues to be the case that more and more Americans are worried about their personal finances. It is an American tradition to go out shopping after Thanksgiving and spend a little bit of extra money. Unfortunately, with the unemployment rate around 9.5% and many American struggling with money and may be the case that a number of these people are not willing to go out to do that extra Christmas shopping.
Author: Mike Garner
Tags: debt settlement plan > government credit card debt relief > government debt relief > obama debt relief changes > obama debt relief plan > obama debt relief services
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