A debt settlement insider sent me the following email they received from Global Client Solutions.
Subject: IMPORTANT NOTIFICATION from Global Client Solutions – State of Connecticut
The following is pursuant to direction from the State of Connecticut, Department of Banking:
Effective May 16,2012, customer fees assessed to account holders residing in the state of Connecticut may not be processed until your organization provides written notice to Global that it is either (i) licensed for debt negotiation by the State of Connecticut or (ii) exempt from such licensing.
Please be advised that if your Connecticut consumers contracted with entities/Affiliates other than your organization, then such written notice must be provided from those corresponding entities/Affiliates.
Frankly I’m surprised more states have not taken similar action. If they had years ago the debt relief space would look much different today.
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