Latest Posts
Home > Debt Articles > Credit Card Debt Settlement Act Of 2010 – No Such Thing

Credit Card Debt Settlement Act Of 2010 – No Such Thing

A press release crossed my desk about “Credit Card Debt Settlement Act Of 2010″ and I had to do a double take. Wha-wha-what!

The release seems to create a new advertising opportunity for less than straightforward debt settlement companies to start sending out official looking government mailers promoting the Credit Card Debt Settlement Act Of 2010, an act which does not exist.

My assumption is the release is trying to turn the new Federal Trade Commission telemarketing sales rules into a new legislative action signed by President Obama.

The Credit Card Debt Settlement Act of 2010 will force the debt relief companies to live up to their promises and negotiate successful settlement deals. The days of collecting large upfront fees with no performance guarantee are over. The risk has been taken away from the consumer and placed on the debt settlement companies.

This new legislation is expected to put all the shady debt relief services out of business. Only those services that have legitimately been settling consumers’ debts will be able to survive. The debt settlement process does work when done in the correct way and with the right company. The legitimate debt settlement companies will have enough confidence to collect their fees on the back end when they successfully settle the debts.

The easiest way to locate legitimate debt settlement companies is to use a Free Debt Relief Network. – Source

The release was put out by a site related to another site that TASC had promoted to consumers previously. You can read that article here.

Credit Card Debt Settlement Act Of 2010   No Such Thing
Get Out of Debt Guy – Twitter, G+, Facebook

Credit Card Debt Settlement Act Of 2010 - No Such Thing by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.