Credit card debt relief options are increasing these days to better cope with the economic recession and financial crisis.
Millions of people are deeply embedded in the financial crisis, so these debt settlement programs have became obligatory option for everyone to select.
Under new laws passed by the Federal Trade Commission, there will be no charges or upfront fee on the outstanding balance.
These new laws proposed by the FTC have changed the way the settlement programs work.
These new laws prohibited the debt settlement companies to charge an upfront fee on the outstanding balance of the consumers.
All legitimate companies appreciated the new laws and regulations.
The fraudulent companies really opposed the new laws.
These new laws are devised for the betterment of the both parties, the creditor and the debtor.
Now both parties are fee of tax.
The debt settlement company will not charge any kind of penalties or liabilities on the consumer.
These companies will only charge the fee when the debt of the consumer will get settled.
The debt settlement deals are increasing day by day, as consumers are more satisfied with the new system of this debt relief.
Previously, there were many companies online which were just grabbing the money of the consumer and after grabbing money, these companies hide away.
Now consumers are fee of any risk of these fraudulent companies.
Many settlement companies think that this new law is focusing in the consumers benefit, because companies need to have some money for maintaining the accounts of the consumer, and this way they won't be able to maintain the accounts.
Even though, consumers are considering more settlement programs with this new law, which would be beneficial for all the parties involved.