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Debt Settlement Consumer Protection Act Labeled Anti-Consumer By TASC

May 14, 2009 Here is an recent email that was sent to me at click here that is reported to be sent out by The Association of Settlement Companies to members to try to defeat the Debt Settlement Consumer Protection Act. Three things struck me. To label the bill as anti-consumer is not helpful. There … Read more

Debt Settlement Consumer Protection Act Attached as Amendment. Fee Increased. Attorney Model Killed.

The Debt Settlement Consumer Protection Act has been attached as an amendment for vote with the Restoring American Financial Stability Act of 2010. It is S.AMDT.3960 and based on support of the Restoring American Financial Stability Act of 2010 the amendment will probably be approved. Text of amendment with change to settlement fee being 10% … Read more

Ethical Debt Settlement Firm Speaks Out About the Debt Settlement Consumer Protection Act

Here is a statement from a debt settlement company in response to the proposed Debt Settlement Consumer Protection Act. It is interesting to see a debt settlement company that is in favor of measures that might still close a majority of other debt settlement companies. What do you think? Agree? Disagree? Post your comments and … Read more

Debt Settlement Trade Group Blaming New York Activists for Debt Settlement Legislation But Banks Were In On It As Well

Interesting messages floating around about the Debt Settlement Consumer Protection Act of 2010. At least one debt settlement trade group is trying to vilify the creators of this legislation by saying the bill was secretly drafted by New York based liberal activists. But the major drivers of this bill appear to be primarily D.C. based … Read more

Text of the Debt Settlement Consumer Protection Act of 2010

Here is what I believe to be the final the text of the Debt Settlement Consumer Protection Act bill as presented. Of course this will be the starting point and who knows what it will look like before passage. A BILL To amend the Consumer Credit Protection Act to provide for regulation of debt settlement … Read more

The Debt Settlement Consumer Protection Act of 2010

As I said, a bill would be coming to control debt settlement companies and here it is. Of particular interest are the consumer groups that are part of the release. Consumers Union National Foundation for Credit Counseling Consumer Federation of America National Consumer Law Center Things are heating up in Debt Settlement. Illustration Credit: Steve … Read more

Senate Hearing on Debt Settlement Industry – April 22, 2010. Ouch! That’s Going to Leave a Mark.

The U.S. Senate held hearings today on the practices of the debt settlement industry. You can watch the entire video of the hearings below. It might be slow in the beginning but take your bathroom break before the halfway point. It gets good and you don’t want to miss a moment of it. Debt Settlement … Read more