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In attempts to protect the consumer, the FTC is working to keep debt settlement companies honest. Many Americans suffering with debt woes are seeking out a debt solution to get them back on their feet and debt settlement is a legitimate option for many in debt. However, many debt settlement companies have chosen to take advantage of consumers and sent them further into debt by not delivering on their promises. This problem has alerted the FTC to take measures to prevent this practice.

The FTC passed a new law on October 27th, the Debt Settlement Consumer Protection Ruling of 2010. The new law is designed to halt these practices and force debt settlement companies to be honest. Some companies will continue to practice as they always have, charging consumers hefty up-front fees and charging for their services prior to settling any debt. They will attempt to circumvent the new FTC rules because it is the only way they know to conduct their business. Some debt settlement companies may struggle to put together a program that meets with the new FTC law so they can remain in business. They will struggle because they don’t have a debt settlement model in place that allows them to make money with the new fee structure. They will find it difficult to service clients under the new model and remain in business.

The Pay As You Settle^® (PAYS^®) debt settlement program is and always has been FTC compliant. We have offered a program with this high standard of ethics for over four years, always looking out for the best interests of our clients. We never charge up-front fees and you only pay for our services after debt settlements have been reached. Our debt settlement program protects you financially so you can trust you will receive the services we promise. With PAYS, you know that you are choosing a debt settlement solution that is proven and has been around for years, upholding a higher standard of moral responsibility.

By selecting a debt settlement company who is taking the FTC law seriously and is offering a debt settlement program that is in compliance with the Debt Settlement Consumer Protection Ruling of 2010, you can trust that debt settlement will actually reduce your debt and provide you with the debt solution you need.