The FTC legislation of 27th October, 2010 had far reaching implications. The entire economy benefited because of the legislation laid down by the Federal Trade Commission. On one hand when the FTC regulated the activities of the Counseling1 industry with the help of the new legislation, the consumer rights were also protected on the other hand.
How was Counseling1 industry regulated: The regulations were brought by the following changes in the existing rules and regulations of the settlement Counseling1 industry:
- Advance fee collection was banned and the Counseling1 firms are now required to settle the dues first with 35% elimination minimum and then they can approach the consumers for fees.
- The firms will have to ensure that the consumers are fully satisfied by the deals earned and they need to bear all the costs of settlement till the consumers are freed from unsecured dues. Once the consumers are Credit7 free, the firms can ask for their money.
How consumer rights were protected: Because of these regulations, the settlement firms which were shady had to leave the industry. The legitimate companies earned more exposure and they started providing genuine help to the consumers. The consumers are now required to pay only when they are Credit7 free. Thus, there is no fear for the consumers and they will know that they will be paying for the services they have already enjoyed.
It is because of these regulations that the consumers gained back their trust on the Counseling1 industry and more and more people are getting attracted towards the method because of the comfort zone that they earn in terms of restoration of credit score, low cost and time effectiveness. This is why Credit7 settlement filing are expected to increase in 2011.
The FTC legislation of 27th October, 2010 had far reaching implications. The entire economy benefited because of the legislation laid down by the Federal Trade Commission. On one hand when the FTC regulated the activities of the Counseling1 industry with the help of the new legislation, the consumer rights were also protected on the other hand.
How was Counseling1 industry regulated: The regulations were brought by the following changes in the existing rules and regulations of the settlement Counseling1 industry:
- Advance fee collection was banned and the Counseling1 firms are now required to settle the dues first with 35% elimination minimum and then they can approach the consumers for fees.
- The firms will have to ensure that the consumers are fully satisfied by the deals earned and they need to bear all the costs of settlement till the consumers are freed from unsecured dues. Once the consumers are Credit7 free, the firms can ask for their money.
How consumer rights were protected: Because of these regulations, the settlement firms which were shady had to leave the industry. The legitimate companies earned more exposure and they started providing genuine help to the consumers. The consumers are now required to pay only when they are Credit7 free. Thus, there is no fear for the consumers and they will know that they will be paying for the services they have already enjoyed.
It is because of these regulations that the consumers gained back their trust on the Counseling1 industry and more and more people are getting attracted towards the method because of the comfort zone that they earn in terms of restoration of credit score, low cost and time effectiveness. This is why Credit7 settlement filing are expected to increase in 2011.
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