American Truthful Credit score Council Declares Regan 2020 Report

FORT LAUDERDALE, Fla .– (BUSINESS WIRE) – The American Truthful Credit score Council (AFCC) at present launched a brand new impartial report illustrating the numerous advantages debt settlement has dropped at the thousands and thousands of shoppers who’ve chosen to take management of their monetary futures. Analyzing the outcomes of 11.4 million particular person accounts, the report, the fourth in a collection overseen by Greg Regan of Hemming Morse LLP, and Peer reviewed by Harvard Professor Will Dobbie, discovered that debt settlement offers, on common, $ 2.64 in financial savings to shoppers for each $ 1.00 of charges assessed.

“Debt settlement nonetheless gives enormous advantages to shoppers who’re in determined want of debt reduction, ”stated Denise Dunckel, CEO of AFCC. “As tens of thousands and thousands of People face the financial uncertainty created by the pandemic, this impartial report illustrates how debt settlement serves financially troubled shoppers daily by delivering important and measurable monetary advantages.

This newest iteration of the “Regan Report” additionally quantifies different advantages that debt settlement gives People fighting unsecured debt. Of those that be part of a debt settlement program, three in 4 could have settled not less than one account inside the first 4 to 6 months of enrollment. As well as, nearly the entire proposed settlements – over 98% – end in a lower in buyer debt better than the accompanying charges, which means that each settlement made by debt settlement suppliers gives important monetary advantages to prospects. shoppers.

Debt settlement, which has helped thousands and thousands of People cut back their unmanageable debt burden, is strictly regulated by the federal authorities. As a further layer of shopper safety to those current federal tips, all AFCC members adhere to a rigorous code of conduct and accreditation requirements, below which AFCC members have settled billions of {dollars}. {dollars} in unsecured debt and, alongside the best way, saved People extra. of $ 1.6 billion per 12 months.

To view the complete report, click on right here. To be taught extra about how debt settlement helps shoppers going through monetary difficulties, click on right here.

In regards to the American Truthful Credit score Council

The American Truthful Credit score Council (AFCC) is the nationwide affiliation {of professional} debt settlement corporations. The AFCC and its member corporations are engaged on behalf of shoppers fighting the crushing burden of unsecured debt to settle these money owed for lower than their complete stability. The AFCC has developed a strict code of conduct targeted on “finest practices” to guard shopper rights and requires member corporations to observe strict regulatory tips for his or her operation. All AFCC members function on a “no upfront charge mannequin” and by no means cost a charge for companies till a shopper’s debt has been efficiently negotiated.

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