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.
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.
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.
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.