Debt Settlement Leader Credit Solutions Settles $24.2 Million of Consumer Debt at 43.6% in October

DALLAS--(EON: Enhanced Online News)--Credit Solutions settled $24,261,434.71 in consumer debt during October 2009, saving $13,682,870.46 on 4,237 client accounts at a 43.6 average settlement offer percentage rate.

“We’re dedicated to helping our clients achieve the best possible settlement offers on their accounts”

This means, consumers for whom Credit Solutions negotiated $24,261,434.71 in settlement offers with creditors last month paid off their credit cards at 43.6% – less than half of the total amount of debt they owed. For instance, if a consumer owed $10,000, he would have the opportunity to settle the account for $4,360, a $5,640 savings.

“We’re dedicated to helping our clients achieve the best possible settlement offers on their accounts,” said Credit Solutions Vice President of Call Center Operations Joey Clapier. “This is a fantastic achievement to average a 43.6% settlement rate for our clients. This is why we’re the nation’s debt settlement industry leader. We have the results to celebrate.”

Settlement companies like Credit Solutions act on consumers’ behalf, negotiating directly with creditors to facilitate repayment of consumer debts at a reduced percentage of the total owed. Upon completing a debt settlement program, all of the consumers’ debts included in the program are “settled,” or resolved with zero balances.

Two recently published academic studies found that debt settlement provides the greatest consumer welfare of any debt-relief approach, calling it part of the healing process to get distressed U.S. households back on sound financial footing.

Since its 2003 inception, Credit Solutions has assisted more than 250,000 U.S. clients in becoming debt-free, settling more than $1 billion total of consumer debt. Debt settlement increasingly offers benefits to consumers as the most immediate form of debt relief available in today’s tenuous economy.

About Credit Solutions

The nation’s debt settlement industry leader, Credit Solutions is recognized by the American Business Awards for the "Best Customer Services Department in Financial Services" and won a 2009 Red Herring 100 North America Award for its custom online technology. A charter policy partner of the United States Organization for Bankruptcy Alternatives (USOBA), Credit Solutions is certified by BSI Management Systems for USOBA best-practice compliance. For more information, visit www.creditsolutions.com. En español: http://espanol.creditsolutions.com/. Follow us on Twitter at www.Twitter.com/smartsavingtips.

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