Georgia Debt Adjustment Act

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Georgia Debt Adjustment Act

La Jules Rep Points:

Posted on November 17, 2009 at 8:00 pm

Can you fill me in on the Georgia debt adjustment act? I am a bit confused about it and hope you can fill me in about it

Purple Cow Rep Points:

Posted on November 18, 2009 at 2:20 am

The Georgia debt adjustment act refers to any debt management service that operates in the state of Georgia. Basically the debt adjuster--which can be your credit counselor or debt negotiator--cannot charge you a fee that is more than 7.5% of the monthly payment that you give to your creditors.

CheetosLover Rep Points:

Posted on November 18, 2009 at 4:35 am

So in other words because of the Georgia debt adjustment act, debt settlement companies aren't allowed to work there? Because they normally charge 15% of the total debt amount from the consumer as a service fee.

LallyPop Rep Points:

Posted on November 18, 2009 at 6:31 am

That means good news for the non-profit agencies, then.