I wrote extensively about the new coverage by the Consumer Financial Protection Bureau of rules that regulate the debt relief industry. See Here It Comes. CFPB Supervision of Debt Relief Industry and Credit Counseling.
The new rules were published in the Federal Register on July 3, 2013 and will go into force on August 2, 2013. – Source
Sincerely,
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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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.
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Great news as these debt relief companies, like the vultures they are, have now set their sights on student loan debt . Check out this article :
http://finance.yahoo.com/news/debt-relief-firms-misleading-student-094900895.html
Way ahead of you on this one. See https://getoutofdebt.org//49243/student-loan-assistance-rescue-scams-on-the-rise-beware
This is the most needed news for this industry! Finally those involved in debt relief will know where they stand on a national level.
Those who practice in UDMSA states have those rules to work with but the need for federal guidelines was so needed.
I hope this quickly develops to include company registration with CFPB and industry training requirements for company staff members like UDMSA legislation requires.
This is a great step forward after the FTC TSR rule changed this industry 3 years ago and companies still here and now moving forward no longer need to wonder what’s coming, this is indeed the “New Debt Relief Industry”.