National Debt Relief Initiative Scam

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National Debt Relief Initiative Scam

the story of us Rep Points:

Posted on March 26, 2010 at 2:20 am

Hi is there truth in the national debt relief initiative scam?

Heads will roll...on the floor Rep Points:

Posted on March 26, 2010 at 2:37 am

I typed this on google 'national debt relief initiative'...and you're right, a lot of articles are saying that it's indeed a scam. the government has nothing to do with it.

Desmond & The Tutus Rep Points:

Posted on March 26, 2010 at 3:12 am

Hi is there truth in the national debt relief initiative scam?--I think this is related or being mistaken for Mortgage Forgiveness Debt Relief Act of 2007 (http://www.govtrack.us/congress/bill.xpd?bill=h11

Je pretend que tu fais bien Rep Points:

Posted on March 26, 2010 at 3:43 am

I agree, but I wonder whether the term national debt relief initiative was ever used by the federal gov. Anyway, the misnomer could also be referring to the Credit Card Accountability Responsibility and Disclosure Act of 2009 http://www.whitehouse.gov/the_press_office/Fact-Sheet-Reforms-to-Protect-American-Credit-Card-Holders/

the story of us Rep Points:

Posted on March 26, 2010 at 3:44 am

I've heard of that..Credit Card Accountability Responsibility and Disclosure Act - whatis it about?

Order Chiroptera Rep Points:

Posted on March 26, 2010 at 4:07 am

effective this Feb 2010. That law states that: -The credit card company can only increase the interest rate if the consumer's payment is 60 days late -Unless the consumer has asked for an over-limit fee, the creditors can't charge the consumer for it. Also, banks may not charge late fees if they were also late in crediting a payment.

almost almost Rep Points:

Posted on March 26, 2010 at 4:16 am

Right and to add to that - -Credit card companies may not market to people under the age of 21, without parental permission, or verification of their ability to pay. -Credit card companies must give the consumers 45 days before they can up the interest rates. -The consumer's payment must first be applied to the highest interest rate balance.