Posted on
March 22, 2010
at
1:39 am
I read that the government doesn't have control over the debt settlement business? If so, is debt settlement legal? Is it safe?
Posted on
March 22, 2010
at
3:27 am
I read that the government doesn't have control over the debt settlement business? If so, is debt settlement legal? Is it safe?-- you are right, the debt settlement industry is still largely unregulated and the government should not have a control over it as it is a private industry.
Posted on
March 22, 2010
at
3:32 am
That doesn't sound promising ... what protection does the consumers have th
en?
Posted on
March 22, 2010
at
3:36 am
The government has the FTC (Federal Trade Commission) and all commercial institutions, I think, are under its laws. Also, these debt settlement companies have their own regulating bodies, and membership or affiliation to such mean that the debt settlement company is willing to be subjected to quality control.
Posted on
March 22, 2010
at
4:14 am
Right. So the next question is what are these regulating bodies (?) or for a debt settlement company to be considered as legitimate or trushworthy, what groups are this settlement company supposed to be a member of (?)
Posted on
March 22, 2010
at
4:46 am
RE: what groups are this settlement company supposed to be a member of (?) Better Business Bureau BBB
www.bbb.org/ The Association Of Settlement Companies TASC /
www.tascsite.org/ USOBA
www.usoba.org/ International Association of Professional Debt Arbitrators IAPDA
www.iapda.org
Posted on
March 22, 2010
at
4:58 am
The government may not have anything to do with debt settlement - but if push comes to shove - for consumers that are really in need of a debt relief - the government has bankruptcy.
Posted on
May 27, 2010
at
6:37 am
Here is the article that you should read. debt-tips.com/blog/item/5-tips-to-avoid-debt-settlement-scams
