Debt settlement companies are no longer able to collect upfront fees. This means that you don't have to pay a single penny until they are able to negotiate a successful settlement deal and eliminate at least 35% of your unsecured debts.

The Federal Credit Card Debt Settlement Act 2010 was recently passed and now consumers in credit card debt have a legitimate option for debt relief. Now if debt settlement companies can't get you a successful settlement deal, you don't pay a dime.

The new federal credit card debt relief laws were passed for good reason. These laws have changed the debt settlement industry and made it an overall much better option for consumers seeking debt relief.

Credit card companies and other creditors of unsecured debt are worried about the rising delinquency rates and are having no choice but to agree to debt settlement deals. With the new FTC laws, the settlement process is much easier for consumer.

New laws recently passed by the FTC make debt settlement a much more legitimate option for debt relief and clearly a better option than filing bankruptcy.

The days of debt relief services taking consumers' fees without actually settling any debts are over. Now they will have to actually settle the debts to get paid.