Thursday, October 28th 2010, 4:16 am
Amanda Taylor, News 9
OKLAHOMA CITY -- The Federal Trade Commission set new rules for debt-relief services starting Wednesday.
The new protections state that before a consumer pays a debt settlement service any fees, the company must settle or change the terms of at least one of their debts and the creditor must be paid first.
Also before signing anything, the company needs to disclose details of the plan and make sure the consumer is aware of any potential pitfalls.
Consumers who need help managing or negotiating their debt should find a local non-profit group to help. The groups will still charge, but it will be a fraction of what it would be if at a debt settlement company.
October 28th, 2010
March 22nd, 2024
March 14th, 2024
February 9th, 2024
March 28th, 2024
March 28th, 2024
March 28th, 2024