Debt Settlement Crackdown – New FTC Restrictions Coming Soon
If you’ve read a few of our recent posts regarding the Debt Settlement industry you know that those services have been under severe scrutiny as of late.
It was announced recently that the FTC will begin imposing new restrictions on the Debt Settlement practice due to widespread abuse against consumers who were struggling during our recent economic downturn. Continue reading “Debt Settlement Crackdown – New FTC Restrictions Coming Soon” »
Government Warnings about Debt Settlement Industry
Warnings about Debt Settlement Companies
When the Government Accountability Office (GAO) testified before the US Senate last month about their undercover investigation of 20 of the debt settlement companies that advertise the most across the country, it came as no surprise to credit counselors—as well as other nonprofit organizations trying to help consumers recover from financial challenges—that they found “fraudulent, abusive and deceptive practices” prevailed in the industry. For details, see www.gao.gov/products/GAO-10-593T. Continue reading “Government Warnings about Debt Settlement Industry” »
New Debt Consolidation Guide on Site…
I wanted to let our readers know that we have added a Debt Consolidation Guide to our website. You can view the guide online and print it off to keep.
We created the guide to help clear up some misconceptions of what Debt Consolidation is and what it isn’t. Continue reading “New Debt Consolidation Guide on Site…” »
Debt Consolidation Services Explained
Debt Consolidation Definition
Wikepedia Definition: Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed rate or for the convenience of servicing only one loan. Continue reading “Debt Consolidation Services Explained” »
Debt Consolidation, Bankruptcy or Debt Settlement?
Consumer debt…how would I love to pay the off! Let me count the ways…
We live in a culture where the burden of consumer debt has not only become acceptable but even expected. Since the average household in America carries nearly $9,000 of credit card debt, a large percentage of American households are looking for the best way to pay off their debt. Here are descriptions of three, including the service that Debt Reduction Services Inc. provides (Debt Consolidation): Continue reading “Debt Consolidation, Bankruptcy or Debt Settlement?” »
Debt Settlement Alternatives
When credit card debt becomes overwhelming, too many individuals trust emails and ads that claim to help out by negotiating down the total balance of money owed-also known as debt settlement. Continue reading “Debt Settlement Alternatives” »