Debt Settlement Services - Why To Never Pay Fees Upfront For Debt Settlement
The Government makes laws and policies for protecting the rights of people.
These laws are made for each type of scenario and case.
Many laws are related to business and others are related to general issues.
Similarly, the Federal Trade Commission makes laws for debt settlement services, credit card issues and other businesses.
Once these laws are in action, any violation of these laws can lead the violator to jail.
A person who is trying to misuse a law can be subjected to punishment by the court.
In the new FTC Act, it is clearly mentioned that no company can take any upfront charges until and unless it actually solves the issues of the credit card holder.
Any statement that becomes law comes through a long process.
Every statement cannot qualify for becoming a law statement.
There are thousands of reasons behind a law.
A Few years ago, when people started using credit cards, bad debts issues started to increase.
When the government took notice of this issue, it found that many people had been robbed by illegal agents and scammers.
These people did more harm than good to the debt settlement services.
Due to these fraudulent services, many people don't trust these advisors.
In order to save people from ruining their future with bankruptcy and encouraging them to use the settlement method as a final rescue option, it was necessary to build a trustful relation between agents and their clients.
The Government implemented this idea through a new Act.
For this purpose, upfront fees are lifted.
Agents and advisors will be paid only in one condition i.
e.
when they will get a settlement offer for their client otherwise they cannot ask for even a single penny.
This step will be a bail out process for creditors.
Due to bankruptcy cases, these creditors were suffering from huge losses.
On the other hand, they have to pay huge taxes to the government each year.
They also spend a lot of money for the collection of bad debts.
When the debt settlement services process will speed up, these creditors will also make more settlement deals.
Settlement is your legal right.
The one who wants to protect his rights should have knowledge about the laws that are made to defend him.
These laws are made for each type of scenario and case.
Many laws are related to business and others are related to general issues.
Similarly, the Federal Trade Commission makes laws for debt settlement services, credit card issues and other businesses.
Once these laws are in action, any violation of these laws can lead the violator to jail.
A person who is trying to misuse a law can be subjected to punishment by the court.
In the new FTC Act, it is clearly mentioned that no company can take any upfront charges until and unless it actually solves the issues of the credit card holder.
Any statement that becomes law comes through a long process.
Every statement cannot qualify for becoming a law statement.
There are thousands of reasons behind a law.
A Few years ago, when people started using credit cards, bad debts issues started to increase.
When the government took notice of this issue, it found that many people had been robbed by illegal agents and scammers.
These people did more harm than good to the debt settlement services.
Due to these fraudulent services, many people don't trust these advisors.
In order to save people from ruining their future with bankruptcy and encouraging them to use the settlement method as a final rescue option, it was necessary to build a trustful relation between agents and their clients.
The Government implemented this idea through a new Act.
For this purpose, upfront fees are lifted.
Agents and advisors will be paid only in one condition i.
e.
when they will get a settlement offer for their client otherwise they cannot ask for even a single penny.
This step will be a bail out process for creditors.
Due to bankruptcy cases, these creditors were suffering from huge losses.
On the other hand, they have to pay huge taxes to the government each year.
They also spend a lot of money for the collection of bad debts.
When the debt settlement services process will speed up, these creditors will also make more settlement deals.
Settlement is your legal right.
The one who wants to protect his rights should have knowledge about the laws that are made to defend him.
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