WHY DEBT SETTLEMENT...
Americans are experiencing a debt crisis, with national credit card debt eclipsing $1 trillion for the first time in 2018. Debt settlement is the most consumer-friendly debt relief option for Americans overwhelmed by unsecured debt, offering struggling consumers an established path to improved financial health. Debt settlement companies advocate on behalf of consumers by negotiating directly with their creditors to achieve reductions in the amount that they owe, allowing their clients to get back to living normal lives. While not for everyone, debt settlement programs offer consumers an important lifeline.
Debt settlement should be a consumer option for many reasons:
- The product is federally regulated to be consumer-centric, putting the client first at every step of the process.
- Independent studies confirm that debt settlement is an excellent option for consumers burdened by overwhelming levels of unsecured debt.
- The AFCC, the national trade association for the debt settlement industry, ensures member companies are held to the highest standards.
DID YOU KNOW?
- On average, debt settlement saves consumers $2.64 for every $1 in fees paid.1
- Clients generally see initial account settlements within 4-6 months of starting a debt settlement program, allowing consumers to experience relief more quickly than other debt relief options.1
- Upon completion of a debt settlement program, the average consumer sees savings of 30 percent on the original debt, including fees.1
- The debt settlement industry is strictly regulated by the Federal Trade Commission. In collaboration with the AFCC, the FTC strengthened its regulation through revisions to the Telemarketing Sales Rules (TSR) in 2010.2
- Before a fee is charged, the client must agree to and make a payment towards the negotiated settlement.2 Clients have the right to reject or withdraw from their engagement with AFCC members at any time, for any reason.3