Jeff Tenenbaum and Jonathan Pompan will speak on "The Fallout from the FTC Rulemaking: What's Next for the Debt Settlement Industry?" at the United States Organizations for Bankruptcy Alternatives (USOBA) Fall Conference on November 5-6, 2009.
This is a pivotal time for the debt settlement industry, both from a regulatory and an economic perspective. Just one day after the Federal Trade Commission (“FTC”) public forum on the proposed amendments to the Telemarketing Sales Rule (the “TSR”) to address the sale of debt relief services hear the latest on how the TSR amendments will impact the industry.
On top of that, the FTC, state law enforcement officials and regulators are taking an aggressive stance against members of the debt settlement industry. Congress and the states are considering new and more expansive regulations to regulate the industry. At the same time, however, consumer need for debt relief options is skyrocketing, with the availability of unsecured credit has tightened significantly and looks to stay that way, fewer and fewer consumers are qualifying for debt management plans as incomes plummet, and less-than-full balance repayments for some consumers may be all they can make.
The future of debt settlement could be very bleak, or, it could be very bright. Hear from two of the industry’s leading attorneys about what this all means for your company, and what you can do to proactively shape your own future.