Posted on April 6, 2010 at 1:31 am debt settlement in Minnesota  info please? Thanks!

Posted on April 6, 2010 at 3:21 am debt settlement in Minnesota ..is regulated by the new Minnesota law.

Posted on April 6, 2010 at 4:42 am Right, and under Under that law, debt settlement/negotiation companies must register with the Minnesota Department of Commerce.

Posted on April 6, 2010 at 4:50 am And to add to that - there's requirement for a written & signed contract, also a limitations on upfro

Posted on April 6, 2010 at 6:06 am Correct, so it's not that professional debt negotiation/debt settlement is prohibited in Minnesota, it's just regulated to prevent scams. And if you're wondering where to check whether the company you've chosen is legitimate or not - contact the - State Commerce Department by calling that agency at (651) 296-4026 or 1-800-657-3602.

Posted on April 6, 2010 at 6:16 am Speak of contact details -- Minnesota Attorney General's Office//// 1400 Bremer Tower 445 Minnesota Street St. Paul, MN 55101 (651) 296-3353 1-800-657-3787 TTY: (651) 297-7206 TTY: 1-800-366-4812

Posted on April 6, 2010 at 6:24 am Debt settlement in Minnesota or out of it - means that the consumer has a chance for his/her debt to be reduced to more or less half. There are many scam entities that would capitalize on this fact - and so the consumer must do his/her homework and check the company's background before releasing money  or signing up - here are some guidelines on what to look for in settlement company --- -The settlement company's program must have a fast completion time. 12-36 months. -The program must be able to protect and improve the consumer's credit standing. -Must be a member of the Better Business Bureau, BBB, for at least 5 years. -Must also have a good standing with the Chamber of Commerce -A Member of TASC - The Association Of Settlement Companies and the IAPDA or the International Association of Professional Debt Arbitrators