CNN.com
CNN.com delivers up-to-the-minute news and information on the latest top stories, weather, entertainment, politics and more.The simple answer to a complex question is YES. Debt settlement is a legal solution used by thousands of Americans to help them avoid bankruptcy. The theory behind debt settlement is very simple: negotiate deals with credit card companies that are mutually beneficial for both parties. This ultimately leads in the credit card company receiving a lump sum payment, and the consumer paying off the entire debt for a percentage of the outstanding balance. The greatest advantage for the credit card company is that they avoid any future problems with collecting on the debt, and any concession made on the creditor's part is most obviously tax deductible. The consumer is at no time breaking any laws or committing any illegal acts.
So, if the answer is so simple, then why is the question so complicated? The problem with debt settlement is not the legality of the practice, but the ethics of those who practice it, namely debt settlement companies. Unfortunately, a number of unethical debt companies have been found to take advantage of consumers' financial strife to boost business.
They essentially promise clients unrealistic results and then charge them outrageous administration fees for services they never provide. Thus, we see that legislation is not so much to protect credit card companies, but in fact to protect unknowing consumers. For this reason, a number of states are requiring debt settlement companies to complete forms and register activity with the state's Attorney General in order for them to be more easily tracked. This helps the government to identify unethical companies in a legal and ethical industry. The idea is to eliminate those companies that have
So, if you are considering joining a Debt Settlement program, relax! What you are doing is legal, ethical, and morally correct; just make sure that the company you chose is also!
Scott Wallitsch is a certified IAPDA debt arbitrator for DebtorSolution. He provides Debt Consolidation and Debt Relief advice to clients who are looking to become financially free and economically independent.
Casino Coin SuppliesGamble Equipment
Used Pool Tables
State Farm Insurance Logo
Free Cheerleading Catalog
Poker Software Developers
Aarp Reverse Mortgage Information
Basketball Crossover Moves
Kickboxing Moves
Honda Bcg Matrix
Poker Nicknames
Online Poker Advice
Upcoming Movies
Online Mortgage Refinance
Free Music Poster
Facts About Canada
Free Lawyers In Italy
Code Of Ethics For Accounting Firms
Download Pirated Books
Tps France
Business Consultant Information
Making Money Online
Human Resources Sites
Refinance Rates In Massachusetts
Texas Holdem Programs
Runescape Password Lists
Golf Course Information
Golf Courses In East Sussex
Fleetwood Manufactured Homes
Credit Card Facts
Catastrophic Medical Insurance
Strategic Consulting
Property Foreclosure Process In Texas
Rivers In North America
Weight Loss Forum
Wholesale Casino Supplies
What Does It Take To Be A Financial Consultant
Currency Trading
Internet Poker Books
File Sharing Controversy
Residential Telephone Number
Institute Of Road Transport Engineers Uk
Iowa Foreclosure Law
Bridge Finance Definition
Taking Credit Card Payments
Map Of Long Island
Capital One Account Services
Build Your Own Disc Golf Basket
Consultants Make Per Hour
Downtown Los Angeles
Golf Swing Trainer
Value Price Of Antique Golf Clubs
Lottery Probability Theories
How Much Do Trial Lawyers Charge
Computer Consultant Salaries
Diet Pills Health Risks
Sim Slots
Fha
Insurance Education
Bridal Consulting Jobs
Results Of An Hr Audit
Shaving Sets Online
Deed In Lieu Of Foreclosure Georgia
Credit Card For Kids
Secured Credit Card Applications
I Need A High Risk Pregnancy Doctor In My Area
Florida Foreclosure Law Books
Simple Interest Calculating
Marketing Consulting Agreement
Va Streamline Refinance
South Park Shows
Famous People From France
How Much Should I Charge To Build A Website?
How Long Does It Take To Become A Corporate Lawyer
Popular Credit Cards
Avoid Foreclose
Wisconsin Divorce Laws
Philadelphia Radio Stations
Male Hpv
Arc Length Equation
All Types Of Business Insurance
Green Tea Extract
Immigration Lawyers In Los Angeles
Streaming Videos
Drink Water To Lose Weight
No Symptoms Hpv
Public Liability Insurance Quotes
Mental Computations
Government Help For Foreclosure
Homeowners Rights Foreclosure
Ohio Allied Home Mortgage
Corporate Image Advertising
What Are Foreclosure Proceedings
American College Of Endocrinology
Banks In Illinois
Verizon Visa Credit Card Website
Online Consult Doctor Chronic Pain
Free Instant Credit Report
Who Buys Land Contracts
Michigan Mortgage Brokers Association
posted by law65716 @ 8:33 PM
0 comments
