Credit debt settlement programs are the ones in most demand these days.
It is due to the fact that recession has left people in miserable situation all around the world.
Before recession hit the world, people were enjoying stabled financial lives with handsome jobs and salaries.
Moreover, they had successful side businesses.
When recession hit the world, people lost their jobs frequently and were pushed to live totally on credit cards.
It resulted in piling up of the massive unsecured credit card debts.
Finding no way put, people started filing for bankruptcy.
It proved to be another serious hit for the economy.
In order to stop the increasing rate of bankruptcies, the government came up with many credit debt settlement programs.
The basic aim of these programs was to help people in massive debts to get out of the burden of debts and at the same time to stop the number of insolvencies.
When people saw the popularity of these credit debt settlement programs, many fake companies also entered the settlement industry.
They used to charge high upfront fee from the debtors and afterwards they used to tell the people that negotiations have failed and they will have to pay the full amount.
Here again the government interfered and made laws according to which no settlement firm will charge people with any kind of upfront fee until and unless a settlement deal is finalized.
It is due to this fact that now it is highly recommended that people should never pay any kind of upfront fee to the companies as by law it is strictly prohibited.
In case any company asks for these charges it means that it is not a true company.
They are only cheating you and dealing with them will only be the wastage of money as well as time.
In short, credit debt settlement programs are for the help of the poor people suffering from massive debts.
Asking any kind of upfront fee is illegal until and unless a deal is finalized.
Moreover, paying fee in advance means that the company is not a true one and it should not be selected for any kind of deal.