Thursday, August 5, 2010

FTC Issues Final Rule to Protect Consumers in Credit Card Debt

Source: Federal Trade Commission

Amendments to Telemarketing Sales Rule Prohibiting Debt Relief Companies From Collecting Advance Fees Will Take Effect in October 2010

Starting on October 27, 2010, for-profit companies that sell debt relief services over the telephone may no longer charge a fee before they settle or reduce a customer’s credit card or other unsecured debt.

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