Fidelity Debt Solutions Expects New Law to Help Debt Settlement Process
San Diego, CA -- Fidelity Debt Solutions, a California-based debt settlement company, has recently commented on the newly-passed Credit Cardholders’ Bill of Rights Act of 2009. According to Fidelity Debt Solutions, the legislation, which was signed into law on May 22, 2009 by President Barack Obama, will help credit card consumers, while at the same time, improving overall awareness within the credit industry.
“The Credit Card Bill of Rights will do nothing but help credit consumers and the debt settlement industry,” said T.J. Belfanti, chief operating officer for Fidelity Debt Solutions.
“Among other things, it will help locate, track and place accounts and speed along the process for consumers looking to get out of debt,” he added.
The new regulations, which take effect in February of 2010, were established primarily to prevent abuse by credit card companies and protect consumers from abrupt rate increases, retroactive rate changes and double-cycle billing.
The Bill of Rights will also help Fidelity Debt Solutions improve quoted settlements by having accurate account balances when a settlement is reached. This will help avoid excessive charges and inflated interest rates, giving customers the best settlement scenarios possible.
“We applaud the new changes,” said Belfanti. “Fidelity Debt Solutions feels that they will help clients better understand their options when attempting to get out of credit card debt. While the new law does not absolve consumers from their responsibilities or obligations to their creditors, it does help leverage the playing field.”
For more information on Fidelity Debt Solutions, visit http://www.fidelitydebtsolutions.org or call 1-888-241-2416.
About Fidelity Debt Solutions
Based in San Diego, California, Fidelity Debt Solutions works with consumers who are or will be behind on credit card payments, have $15,000 or more in unsecured debt and have some form of income to continue making payments. Fidelity Debt Solutions recently obtained third-party BSI Accreditation, which gives consumers confidence in knowing they are dealing with an accredited and legitimate debt settlement company and that best business practices are being implemented.
# # #
- Contact Information
- TJ Belfanti
- Fidelity Debt Solutions
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.