This is the post to follow for all the news related to the press conference this afternoon at the White House regarding the announcement of the new telemarketing sales rules that cover debt settlement and debt relief providers.
I’ll update this post with information as I can.
The plan is after the press conference with VP Biden and the FTC Commissioner, which I will be attending, I will interview a couple of FTC people for the site about what the new rules mean for everybody.
The press conference is in two hours, I’ve just arrived at the White House and now patiently waiting, make that impatiently waiting.
Depending on workspace arrangements inside the briefing room I might be able to get messages out faster via Twitter. If you have a Twitter account, follow me at @GetOutOfDebtGuy for updates and pictures from the briefing.
UPDATES WILL BE BELOW
12:18 pm – In the White House press briefing room.
12:47 pm – Killing time wandering around the press offices. Not as fancy as you might think. Tiny cubicles for each of the big networks. I posted a picture of the CNN space below.
1:12pm – Now in executive office building briefing room.
1:25 pm – Just got advance notice. No fees for firms and attorneys before providing any service, the debt relief service settles at least one debt, written agreement with creditor and consumer, consumer has made payment to creditor.
Success rates can’t be faked.
Applies to for-profit companies.
Telemarketing rules cover incoming calls.
2:06 pm – Still waiting for VP Biden to show up for press conference.
Effective date for fee ban October 27, 2010. Everything else effective September 27, 2010.
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