DEBT SETTLEMENT FACTS

Let's learn the facts about debt settlement.  According to the American Fair Credit Council, debt settlement helps Americans save over 1.5 billion dollars each year.   American consumers save an average of $2.64 for every $1.00 spent in fees with debt settlement companies.

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Facts from the AFCC website: DID YOU KNOW?

1. On average, debt settlement saves consumers $2.64 for every $1 in fees paid.1

2. 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

3. Upon completion of a debt settlement program, the average consumer sees savings of 30 percent on the original debt, including fees.1

4. 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

5. 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

 

1. Regan Report | American Fair Credit Council 2. Telemarketing Sales Rule

3. American Fair Credit Council Code of Conduct