40 States Want The Federal Government To Concentrate On Debt Relief Agencies

The attorneys general {} Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Iowa, Kansas, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Washington, West Virginia and Wyoming have all asked the Federal Trade Commission to raise the control of {} that have been offering debt reprieve to persons and families in the United States.

One of the things that the FTC is currently thinking about imposing on the debt relief agencies is to {} them in the Telemarketing Sales Rule.

One wrong step from the Credit Solutions of America corporation {} to the actions being filed. The {} has been {} claiming that it {} reduce credit card debt by 50%. This infuriated Illinois Attorney General Lisa Madigan enough to sue the company and its CEO. In the {}, Madigan states that Credit Solutions of America never go through with their end of the agreement and never truly talk with the creditors of their clients even though the patrons stop paying their creditors directly and are truly making payments to Credit Solutions of America. {}, {} the creditors aren’t getting their payment, they are suing the customer to get their money; and winning.

Madigan has {} said that her office has {} over 12,000 complaints about this matter.

Some of the {} that the FTC is considering imposing on the debt relief businesses {}:

- Prohibiting the agencies from charging the consumer anything until services have been performed. This would also need more disclosure to customers; including how long it will take to {} the debts and {} it will cost.

- Prohibiting the {} from being {} to misrepresent things such as costs, success rates, and any other information that alludes to the impact of the debt reprieve services on the consumer’s credit report and credit history.

Some debt relief {} really do what they say they are going to do, but other corporations like this one listed in the lawsuit above are appalling and need to be regulated. The {} that do what they state they do shouldn’t have an issue with the new {} that are imposed on them. Because the {} before now follow the regulations, any new rules will just mean that it’s leveling the playing field for the excellent corporations.

By: Greg Jackson

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