Credit Debt – Can Debt Settlement Companies Really Help
May 14, 2009
American Debt Control - Special Report News Release
The stock market is staging a comeback and the banking system is getting back on solid ground. Smooth sailing, right? Not so fast. Many financial experts say massive credit card debt is poised to become the next financial nightmare.
Grapevine, TX, (PRWEB) May 14, 2009 – With the U.S. economy is in its worst shape in more than 70 years and unemployment continuing to rise, people who never thought they would have a problem paying off loans and credit debt find themselves in trouble. One source of help is debt settlement companies, but experts say be careful: they’re not all alike.
“Debt settlement companies help people with high unsecured credit debt reach negotiated settlements with creditors for reduced amounts,” Zack Anderson, president of American Debt Control, LLC, said. “Credit debt, particularly credit card debt, is a huge concern for millions of people. By settling their debts instead of walking away from them, they avoid the stigma and most of the financial restrictions of bankruptcy so they can get back control of their lives.”
But the young debt settlement industry has spawned some disreputable players that have caused the public to question even the good companies. Anderson decided credit debt was affecting so many people’s lives that he began working to help set the record straight and help people make good choices.
Anderson’s company now offers, without charge, a special report titled “12 Questions to Ask Before You Hire a Debt Settlement Company.” The report may be downloaded at the American Debt Control Website. The 10-page report reveals:
- How the debt settlement process works
- The advantages and disadvantages of debt settlement for unsecured credit debt
- What a debt settlement company should do for a consumer
- What the consumer’s responsibilities are
- What debt settlement costs and how to pay for it
- How to tell which companies maintain the highest standards
- The role of the Association of Settlement Companies
- And much more
Although negotiated debt reduction has been around longer than money, the modern debt settlement industry is little more than three years old. It was catapulted into prominence in 2005 when new bankruptcy laws made it extremely difficult for individuals to file for Chapter 7 bankruptcy. As unsecured credit debt has ballooned, the debt settlement industry has grown with it.
“Our industry has some bad apples, but the majority of debt settlement companies take their obligations to clients seriously and work very hard to help them get their financial lives in order,” Anderson said. “We’re not going to let the few spoil it for the many, which is why we decided to do this report. It can really help people keep from making costly decisions about how to manage credit debt.”
In April of this year American Debt Control received “Best Practices Accredited” recognition from The Association of Settlement Companies (TASC), the national professional association of the debt settlement industry. To earn accreditation, American Debt Control was evaluated against nationally recognized standards by a team of independent auditors to assure sound, ethical business practices and adherence to the highest levels of quality, service and integrity.
12 Questions to Ask Before You Hire a Debt Settlement Company is available for download now from American Debt Control, at no charge.
About American Debt Control
American Debt Control, LLC, is a full-service debt settlement company that is “Best Practices Accredited” by The Association of Settlement Companies and has more than 10 years of experience helping financially distressed people become debt-free and take back control of their lives. Our knowledge and solid relationships with banking and collection institutions nationwide help our clients reach favorable settlements, become debt-free and stay that way without the lasting stigma of bankruptcy. For more information, call American Debt Control toll-free at 1-877-770-1080, or visit our Website, http://www.americandebtcontrol.com.
Contact
Mark Cummins, Vice President of Operations
American Debt Control, LLC
markc@americandebtcontrol.com
817-231-0950
Get the American Debt Control Special Report
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