According to a recent news (October 5, 2010), the Federal Trade Commission has passed new laws concerning debt settlement that will supposedly make getting out of a debt in a debt settlement process much easier for the consumers. This is good news for all those out there who have been under a lot of debt burden and find their debt settlement companies harassing them for repayment or exorbitant debt charges.

Effectively, these new debt settlement laws ban the debt settlement companies from taking upfront fees from their consumers and these laws are applicable for small scale business as well. In other words, consumers and small scale business do not have to pay any amount of money to their debt settlement companies until their debt has completely cleared! Read the rest of this entry »