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Zero tolerance for deceptive debt settlement companies becomes effective July 15
by Joseph Ernest July 14, 2010
NewscastMedia -- The new “USOBA Zero Tolerance Policy” that outlines ethical standards and best practices surrounding debt settlement marketing and communications will become effective July 15, 2010. The announcement was made by the United States Organizations For Bankruptcy Alternatives (USOBA), that requires all USOBA member companies to adhere to the USOBA Zero Tolerance Policy guidelines in order to retain their membership with USOBA.
Read the highlights of the policy here. (pop-up)
Jenna Keehnen, Executive Director, USOBA said, "Deceptive marketing in the debt settlement industry is detrimental to both the consumer and the industry. As ardent supporters of transparent and ethical communications within the debt settlement industry, USOBA developed the standards within its Zero Tolerance Policy with the consumer in mind, holding member companies to the highest possible standards proactively and voluntarily. It is, and always has been, our highest priority to facilitate consumer protection and open communication between debt settlement providers and those working diligently to eliminate debt."
Companies that violate the USOBA Zero Tolerance Policy will face immediate suspension or termination of the company’s membership with the trade organization.
The mission of the USOBA is to support efforts by the States and the Federal Government that ensure strong consumer protections, while preserving the ability of honest, ethical providers to serve consumers in need.
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