Debt Settlement Works, Well

As banks and credit card companies continue to suffer their worst financial loss in decades, debt settlement continues to demonstrate that they provide an invaluable service, not only to consumers but also to the creditors. According to TASC, the debt settlement industry has returned more than $2.2 billion in consumer debt last year alone! 

Due to the rising unemployment rate and a growing number of complaints against creditors and collectors, more and more consumers are seeking the services of good debt settlement companies, like those that are members of TASC.

TASC accredited debt settlement companies are some of the best debt negotiators in the industry.  To me, it does not make much sense that when the banks need money most and are depending on the American tax payers for a “bail-out”,  some creditors, like credit card companies, are turning their backs on hundreds of millions of dollars immediately available to them to settle these accounts. I guess they would rather take more from the consumer and just sue those that can’t pay when they have fallen on hard times.

According to TASC research, an estimated $500 million in settlement funds, saved by consumers, are available to credit card companies at this time; additionally, the credit card industry charge-off rate now exceeds 10 percent! 

Further, bankruptcy filings in the United States now exceed 6,000 per day, according to a report from Automated Access to Court Electronic Records. It is very clear that debt settlement works. Any reputable debt settlement program provides the consumer with a three-year plan to get out of debt without the 10-year stain of bankruptcy on their credit report. Consumers avoiding bankruptcy ultimately helps creditors as well.