New Bill May Hinder Debt Settlement

By admin • May 10th, 2010
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Last week, Democrat Senators Chuck Schumer, D-N.Y. and Claire McCaskill, D-Mo., introduced the “Debt Settlement Consumer Protection Act.” This debt relief bill would limit the fees that a debt settlement company would be able to charge a consumer for credit settlement services. If passed, the new law would mandate written disclosures before debt reduction services were performed and include a provision for the right to cancel for a full refund.  Many consumers complained that the debt settlement plans did not work.   Debt settlement is a bankruptcy alternative, that may be a debt solution for you, but we recommend speaking with bankruptcy lawyer before committing.  Read the original debt article > Democrats Pushing Debt Settlement Bill

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