Federal Credit Card Debt Relief – How To Take Advantage Of New Federal Laws To Settle Credit Debt
For nearly a decade there have been many debt relief programs that promised the world and failed to deliver. Debt settlement programs used to be allowed to collect upfront fees with no performance guarantee however the new federal credit card debt relief laws have changed this. Now consumers or small businesses that enter into a debt settlement program will not have to pay a dime until their debts actually settle.
The new federal credit card debt relief laws nave made it easier and far less risky to settle credit debt. The shady debt relief companies have been put out of business with this new legislation. The shady companies know they cannot survive without collecting upfront fees. The days of promising consumers a dream and simply collecting fees without providing a real service are over.
The legitimate debt settlement companies embrace the new federal credit card debt relief laws. The companies that have actually been successfully negotiating settlement deals will have enough confidence to collect their fees on the back end when they actually make a settlement deal. A good site to find legitimate debt settlement companies is FreeDebtReductionHelp.com. They can help consumers find the best debt settlement services and also go over all their debt relief options for free.
Getting out of debt through a debt settlement process does not come without consequence. Consumers will see their credit score negatively affected in the short run however it is not nearly as bad as bankruptcy. Typically, credit scores can be repaired within 2-3 years while bankruptcy will negatively affect an individual’s credit for at least 7 years.
The easiest way to locate legitimate debt settlement companies is to use a free debt relief network. These networks will ensure that the debt settlement company provided is legitimate and is a respected member of all the regulatory commissions such as The Association Of Settlement Companies and the BBB. Most free debt relief networks will provide a free debt consultation to help the consumer determine what debt relief option is most appropriate.
There is no magic bullet to get out of debt however debt settlement can a good option for consumers who are experiencing financial hardship and have at least $10k in unsecured debts.
To locate legitimate debt settlement companies through a free debt relief network check out the following link:
- Contact Information
- Michael Smith
- United Debt Associates
- Contact via E-mail
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