Wednesday, October 27, 2010

New rule: No more up-front fees for debt fixers

A new policy states that companies who help people lower their debt cannot charge upfront fees. These companies now have to show customers how much money they can save and how much they will spend by using the company, then, the customer decides whether or not to move forward. If they decided they do not want to use the company they owe no fees.
This is related to politics because it is a policy that was implemented because citizens felt used by these companies that promise to lower customer's debt. This is because many people end up paying more money for using the services. It is also related to politics because the national debt is on the public agenda, and these services help lower debt.

-Elizabeth Woollen

http://money.cnn.com/2010/10/27/pf/debt_settlement_fee_rule/index.htm?cnn=yes&hpt=t2

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