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Debt Settlement Economic Impact Studies

Over the past nine years, the American Fair Credit Council (AFCC) has commissioned numerous comprehensive reports from various independent financial and academic experts, including Greg Regan, CPA/CFF MBA of Hemming Morse LLP, John Dunham & Associates (JDA), and Will Dobbie of Harvard Kennedy School. The purpose of these reports is to evaluate the impact of debt settlement. Collectively, these reports analyzed and collected data from across the U.S., including millions of consumers and individual accounts. Ultimately, these studies demonstrate that debt settlement industry providers have a substantial positive effect on the U.S. economy, as well as the lives of the millions of Americans who sought help with their unsecured debt.

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Options for Consumers in Crisis An Updated Economic Analysis of the Debt Settlement Industry

In 2012, the American Fair Credit Council (AFCC) commissioned the first-ever independent analysis of the economic impact of the debt settlement industry on enrolled participants. Since then, the AFCC has commissioned four reports overseen by Greg Regan of Hemming Morse LLP, all of which exemplify the immense benefits of debt settlement for consumers struggling with unsecured debt.

Greg J. Regan
State Versions Options for Consumer in Crisis

The following state-specific versions of the recent independent “Regan Report” are a supplement in the series of reports overseen by Greg Regan of Hemming Morse LLP. These iterations exemplify how debt settlement serves consumers in financial hardship each day by offering significant and measurable financial benefits.

Greg J. Regan
Financial Outcomes for Debt Settlement Programs

The American Fair Credit Council (AFCC) commissioned these two reports in 2019 and 2020, both of which were completed by Will S. Dobbie, Professor of Public Policy at Harvard Kennedy School of Government. The reports examine current evidence as well as past research conducted by Greg Regan of Hemming Morse LLP, while concluding that the Regan Report’s results were correct and debt settlement programs offer significant benefits to financially distressed individuals.

Will Dobbie
  • Professor of Public Policy Harvard Kennedy School
Economic Impact Report

The 2019 and 2020 Economic Impact Reports analyze the debt settlement industry’s national and local economic impact. These independent studies, which were commissioned by the AFCC from John Dunham & Associates, demonstrate the overwhelming importance of debt settlement for consumers, the U.S. economy as a whole, and state economies across the nation.

John Dunham