Chicago, IL (BUSINESS WIRE) 11 October 2010

According to Richard G. Fonfría, JD Fonfría Law Group, LLC (http://www.chicagomoneylawyer.com), a leader in Illinois bankruptcy law firm and bailout, new rules now, the company’s debt to pay for more accurate and transparent about their services, is a step in the right direction. The new FTC rules mean that companies should now debt customers how much money will be paid for their services and the truth about the duration of the liquidation process.

The Federal Trade Commission, complaints against debt settlement company, citing unfair and deceptive practices have increased 18% between 2008 and 2009. The vast majority of consumers about the broken promises of debt settlement companies and hidden fees complained. In general, consumers have been led to expect better, easier and much faster to obtain results for the settlement company debt than they do. That is the problem in all states, but is particularly acute in Florida, California and other states that were hit hard by the collapse of the real estate market in recent years.

“Whereas companies debt would outrageous allegations without warning customers about the fee, or will make ahead of schedule,” said Fonfría. “These new rules go a long way in protecting consumers from unscrupulous business debt, the people in serious financial difficulties prey. However, these rules apply only to businesses that promote the debt settlement business by phone. Settlement company debt, working over the Internet or provides face-to-face meetings are by these rules. Consumers have to be careful. “

Later this month there is still more to help the financially troubled consumer debt debt settlement companies are. On 27 October, the Federal Trade Commission set new rules that ban companies to collect fees for debt cancellation in advance. Customers no longer have to pay in advance to these companies for their services. Payment is made only after the client’s debt was reduced or dissolved.

“Although these new rules will go a long way to reduce fraud and fraudulent practices of certain goods go debt settlement, consumers must still be careful in dealing with business debt,” says Fonfría. “If making money is always dishonest people, cheaters ready, the rules and attack people will bow to look hopeless debt. Consumers should do their homework before you sign a contract, in particular with a company debt. A wealth of information available free from federal consumer protection agencies and local government Consumer Protection. consumers must be realistic about what can be done to solve their financial problems and understand that if someone offers you a quick fix, the well seems to be true, it is likely to be, “advises Fonfría .


Contact

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Richard G. />

Fonfría Law Group, LLC

First National Plaza

70 Madison West, Suite 1400

Chicago IL 60602

Local: 705-754-4545
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Rich (at) chicagomoneylawyer (dot) com

Http: / / www.chicagomoneylawyer.com

About

Fonfría Law Group Chicago money from lawyer Richard Fonfría Fonfría Law Group is ready to help Illinois homeowners in serious financial difficulties and consumers face mounting debt. With eighteen offices in the communities of Chicago and Illinois, Chicago Law Group Fonfría bailout and experienced team of legal resources and offers all types of services for bankruptcy, tax defense, debt consolidation, bad credit repair, defense foreclosure of, debt management credit card, loan and mortgage refinancing tips. For more information 312-969-0730 or learn more about http://www.chicagomoneylawyer.com online

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