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debt settlement companies

Thumbnail image for Chase Bank Does Not Work With Debt Settlement Companies

Chase Bank Does Not Work With Debt Settlement Companies

May 19, 2010

The debt settlement industry landscape is always changing. When you consider all of the different credit card banks and their evolving internal policies and procedures, that should be no surprise. From time to time, it seems one bank or another proclaims they will no longer work with debt settlement companies. Debt expert Steve Rhode recently [...]

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Thumbnail image for Popular Debt Settlement Myth #2 Exposed

Popular Debt Settlement Myth #2 Exposed

May 17, 2010

If you are considering debt settlement to resolve your credit card debts, I strongly urge you to do your own research and be as informed as possible before deciding to move forward. Regular readers of the DIY Debt blog know how little I think of the majority of debt settlement companies out there and that [...]

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Debt Settlement Consumer Protection Act Amendment

May 12, 2010

As the Debt Settlement Consumer Protection Act makes its way through the Senate, an amendment has been proposed by Senator Chuck Schumer and Senator Claire McCaskill . The Senators submitted the amendment recently to the bill they first announced last month.  For those who are hearing about this bill for the first time, the intent [...]

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Thumbnail image for Debt Settlement Consumer Protection Act Aims To Drastically Cut Fees

Debt Settlement Consumer Protection Act Aims To Drastically Cut Fees

May 3, 2010

Last week Senators Schumer and McCaskill announced the Debt Settlement Consumer Protection Act, which is a bill they have written that aims to protect consumers and curb predatory practices that are all too common in the debt settlement industry today. The actual text of the bill became available recently, so let’s dive in and take [...]

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Thumbnail image for Better Business Bureau Warns Consumers Away From Debt Settlement Companies

Better Business Bureau Warns Consumers Away From Debt Settlement Companies

April 30, 2010

It’s been a difficult week for the debt settlement industry. It started with a very poor showing at the Senate hearings on debt settlement last Thursday. Then this week saw Wednesday’s announcement of the Debt Settlement Consumer Protection Act, which is now being discussed in Congress. And the latest blow is yesterday’s warning to consumers [...]

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Thumbnail image for Senators Announce Debt Settlement Consumer Protection Act

Senators Announce Debt Settlement Consumer Protection Act

April 28, 2010

A press release came out of Senator Chuck Schumer’s office this afternoon announcing a bill he co-introduced today with Senator Claire McCaskill called the Schumer-McCaskill Debt Settlement Consumer Protection Act. The announcement was expected ever since the Washington Post published an article last Friday reporting that Senator Schumer was already at work on a bill [...]

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How Much Will Debt Settlement Cost You?

April 27, 2010

If you have done your research and have concluded that debt settlement is the best strategy for your particular circumstances, and you have decided not to handle your own negotiations, then your next step is to hire a company to do it for you. This is a very important decision because hiring the right debt [...]

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Thumbnail image for Government To Propose New Legislation For Debt Settlement Industry

Government To Propose New Legislation For Debt Settlement Industry

April 26, 2010

According to this article published by the Washington Post, the U.S. Senate is preparing to introduce legislation this week that aims to impose new limits on debt settlement companies. This news comes on the heels of last week’s Senate Commerce Committee hearing on the debt settlement industry where the results of the Government Accountability Office’s [...]

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Thumbnail image for Debt Settlement Industry Faces Government Scrutiny

Debt Settlement Industry Faces Government Scrutiny

April 23, 2010

Most debt settlement companies are more interested in their own financial gain than helping consumers who are struggling with high debt balances and are seeking their help. Unfortunately, preying on distressed consumers is nothing new but this prolonged economic downturn we’re in seems to have really brought out the worst in the sharks. Yesterday, the [...]

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Thumbnail image for 4 Warning Signs When Looking For A Debt Settlement Company

4 Warning Signs When Looking For A Debt Settlement Company

April 20, 2010

If you have decided that debt settlement is the best strategy for your particular debt situation and you have decided to not handle your own negotiations, then you need to find a third party debt settlement company to work with. Given all of the scams and fraudulent companies operating in this industry these days, now [...]

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