Credit Debt - Can Debt Settlement Companies Really Help?

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 (http://adc.tmastaging.net/credit_card_debt.htm), 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 (http://www.americandebtcontrol.com/special-report.asp) at the American Debt Control Website. The 10-page report reveals:

* How the debt settlement process (http://adc.tmastaging.net/debt_settlement.htm) 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 (http://adc.tmastaging.net/unsecured_debt.htm) 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 (http://www.americandebtcontrol.com/special-report.asp) 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 1-866-861-8894, or visit our Website, http://www.americandebtcontrol.com.

Contact

Mark Cummins, Vice President of Operations

American Debt Control, LLC

817-231-0950

# # #

This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.

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Credit Debt - Can Debt Settlement Companies Really Help? 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 (http://adc.tmastaging.net/credit_card_debt.htm), 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 (http://www.americandebtcontrol.com/special-report.asp) at the American Debt Control Website. The 10-page report reveals: * How the debt settlement process (http://adc.tmastaging.net/debt_settlement.htm) 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 (http://adc.tmastaging.net/unsecured_debt.htm) 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 (http://www.americandebtcontrol.com/special-report.asp) 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 1-866-861-8894, or visit our Website, http://www.americandebtcontrol.com. Contact Mark Cummins, Vice President of Operations American Debt Control, LLC 817-231-0950 # # # This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice. Rate This Article:	Credit Card Debt Blog Debt Solution Blog Debt Settlement Blog Debt Help Blog What is Debt Settlement and How Does it Work? Debt settlement involves negotiating with a creditor or creditors to pay off a percentage of your total debts at an agreed upon settlement amount. Often, people choose to utilize the services of a debt settlement company rather than attempting to do it on their own. What is Debt Settlement and is it Right For You? If you're seeking an alternative to bankruptcy due to excessive debt that you can't pay, you may be considering debt settlement Settling your debt is when you negotiate with your creditors to lower the amount you owe The benefits from Credit card debt consolidation Credit card debt consolidation' seems to be the most talked about term in the world of credit cards. It's true that credit cards have been very useful and convenient for us and we, in fact, treat the credit card as a necessity. However, with every good you have evil too. In the world of credit cards, Credit card debt' is that evil and Credit card debt consolidation' is often regarded as a method for treating credit card debt. Problem Called Credit Card Debt Credit cards are no more a luxury, they are just about a prerequisite. So, you would imagine lots of folk going for credit cards. In fact, a large amount of folks posses more than one credit cards. So, the credit card industry is growing by jumps and bounds. However, the credit card industry and credit card holders are posed with a huge problem called 'Credit Card Debt'. In order to understand what 'credit card debt' actually means, we need to understand the workflow related to the use of credit cards as such. Answers to Your Questions about Personal Debt Settlement If you're in serious trouble with your credit cards, you may be wondering how to get out of credit card debt. Personal debt settlement is one of the fastest and easiest ways to settle your debt and get credit card debt consolidation at the same time. 4 Keys to Credit Card Debt Relief For most people trapped with credit card debt, getting access to a credit card debt relief program works out better than declaring bankruptcy You can easily negotiate your way through with your financial institution and even get a significant reduction in the outstanding balance owed to the bank How to Choose a Debt Settlement Company As consumer debt continues to spiral out of control, debt relief is fast becoming a major concern for many American's. In 1999, American's made $1.
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