Federal debt relief has aided the settlement industry in different ways.
Federal debt relief has changed the entire structure of the liability settlement industry.
This aid has not only changed the illegal environment of the industry; it has even altered the legal environment of the industry.
Effects on illegal environment of federal debt relief: The government added a rule to the industry that stated: consumers only pay their settlement service providers after the services have been offered.
The negotiation services and the consultancy services will be provided by the settlement organization without any consideration.
The consideration will only be paid if the services are offered and the services are of high quality.
This affected the illegal industry in a negative way.
The illegal service providers stopped making huge profits.
People recognized the difference between legal and illegal companies and they stopped acquiring services from illegal operators.
The illegal operators had to leave the industry because they started suffering huge losses.
The profits of the remaining illegal practitioners are reducing and it is expected that soon the industry will have no illegal operators.
Illegal companies are now looking for business in other industries.
Effects on legal environment: When this law was not implied on the industry; the illegal practitioners had little business.
Only those legal practitioners were getting businesses that were best in the industry.
They were charging high amount of fees.
They were not working effectively and efficiently.
They were delaying cases and their clients were suffering losses.
They were showing no determination in working for their clients.
The industry was losing consumers.
The market share was being taken away by insolvency industry.
When these rules were applied the industry changed; the quality of service increased.
Service providers started providing quality results.
They started working effectively and efficiently.
They stopped delaying courses and more and more cases are being solved.
The consumers had an option of not paying at all if the quality of service was low.
Those who did not have the ability to pay high amount of fees and upfront fees even started getting aid from this industry.
The fees charged by the service providers reduced.
Legal companies were available without extensive research.
The economy even flourished as the lenders were getting their money back at good pace and they increased the rate of their lending.
The rate of investment even increased significantly.
These are the advantages experienced by the industry after changes in rules and regulations.
Federal debt relief has changed the entire structure of the liability settlement industry.
This aid has not only changed the illegal environment of the industry; it has even altered the legal environment of the industry.
Effects on illegal environment of federal debt relief: The government added a rule to the industry that stated: consumers only pay their settlement service providers after the services have been offered.
The negotiation services and the consultancy services will be provided by the settlement organization without any consideration.
The consideration will only be paid if the services are offered and the services are of high quality.
This affected the illegal industry in a negative way.
The illegal service providers stopped making huge profits.
People recognized the difference between legal and illegal companies and they stopped acquiring services from illegal operators.
The illegal operators had to leave the industry because they started suffering huge losses.
The profits of the remaining illegal practitioners are reducing and it is expected that soon the industry will have no illegal operators.
Illegal companies are now looking for business in other industries.
Effects on legal environment: When this law was not implied on the industry; the illegal practitioners had little business.
Only those legal practitioners were getting businesses that were best in the industry.
They were charging high amount of fees.
They were not working effectively and efficiently.
They were delaying cases and their clients were suffering losses.
They were showing no determination in working for their clients.
The industry was losing consumers.
The market share was being taken away by insolvency industry.
When these rules were applied the industry changed; the quality of service increased.
Service providers started providing quality results.
They started working effectively and efficiently.
They stopped delaying courses and more and more cases are being solved.
The consumers had an option of not paying at all if the quality of service was low.
Those who did not have the ability to pay high amount of fees and upfront fees even started getting aid from this industry.
The fees charged by the service providers reduced.
Legal companies were available without extensive research.
The economy even flourished as the lenders were getting their money back at good pace and they increased the rate of their lending.
The rate of investment even increased significantly.
These are the advantages experienced by the industry after changes in rules and regulations.