Debt Education Firm Releases Free Debt Settlement eBook
A free eBook introducing a
comprehensive professional training program updated with the timeliest
information, prepared in the most useful way.
Minneapolis, MN – The previous
industry certification training for debt settlement professionals have proven
futile. In response to the growing
outcry from industry regulators and consumer protection organizations, Global
Debt Systems has produced a comprehensive training program for debt settlement
professionals. It challenges current practices that regularly fail to produce
results promised to consumers. It builds
upon the insight of industry experts and consumer advocates who have
collaborated to develop this e-learning curriculum, which is available through
our website.
After
many years of rising profits, credit card companies are experiencing record
losses in 2009. As consumer-friendly
provisions in the Credit CARD Act are scheduled to take effect, card issuers
are working quickly to limit losses by slashing credit limits and raising
interest rates – even on accounts in good standing and to consumers with high
credit scores.
For
millions of consumers mired in debt, settling debts by negotiating with
creditors is a preferable alternative to bankruptcy and more effective than
credit counseling. Unlike solutions that either re-arrange the repayment
schedule or liquidate all assets, debt settlement resolves the debt in full by
negotiating a reduced lump sum payment with creditors.
Creditors
are motivated to accept a reduced amount immediately in satisfaction of the
debt after experiencing a long period without payment on a delinquent account. They
prefer debt settlement rather than spending time and money pursuing legal
remedies that are costly, time consuming, and offer no guarantee of
success. Lenders are further motivated to act quickly before other creditors
assert their claims if the consumer is in default on multiple credit
obligations.
“Some creditors may consider
the settlement firm and other creditors as competitors for the debtor’s limited
funds,” states Boun Vilailath, Chief Consultant at Global Debt Systems. “Their resolution may be to file a lawsuit
and obtain a judgment. These actions move
them in the front of the line to be re-paid.”
The
eBook introduces the debt settlement training program. The program provides an in-depth
analysis of credit card lending and collection practices and makes conservative
forecasts of future market conditions by examining the current state of
consumer delinquencies. Certifications are awarded upon completion of
the entire eight-course curriculum.
Early registration discounts are available. The introductory free eBook is available for
download at our website.
About Global Debt Systems
Global Debt
Systems improves
the process of resolving delinquent consumer debt by training and outreach
efforts designed to create mutually beneficial results for creditors,
consumers, and debt counselors. We provide e-learning services
to companies and organizations that educate and advocate for ethical business
practices.
Located in
Minneapolis, Minnesota, the company donates time and a portion of its profits
to various non-profit organizations that promote responsible budgeting and
financial management.
