Crackdown on credit settlement companies - KWWL - Eastern Iowa Breaking News, Weather, Closings

Crackdown on credit settlement companies

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(KWWL) -- Companies that offer to settle your credit card balances and other debt will go under a new rule.

The Federal Trade Commission says those companies can no longer charge an upfront fee to settle those bills.

Other new measures are designed to protect the consumer against unscrupulous companies.

Debt settlement companies flourished as the recession deepened and families found themselves behind on their bills.

Online Anchor: Sunny Layne

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