Debt Settlement

• How Debt Settlement Impacts Credit
  Unfortunately there are a lot of myths about debt settlement and debt relief in general.  Many consumers have indicated concerns regarding debt settlement programs damaging credit.  In most cases people who complete debt settlement programs are behind on their credit card payments and typically their credit scores are already low.  However, there are people […]

TASC Promotes Debt Settlement Benefits

The Association of Settlement Companies (TASC) has established an online resource that provides information concerning TASC itself and the debt settlement industry as a whole, including news and updates about industry issues. As discussed on its website, TASC is an internal watchdog group within the debt settlement industry. TASC’s goals are to “promote good practice in the debt settlement industry, protect the interests of consumer debtors, and lobby on behalf of debt settlement companies on the federal and state level.” The TASC website features many useful tools that consumers may use to choose the best debt settlement company for their needs. The website includes the article “Top 20 Facts You Should Know about TASC,” as well as an About Us and FAQ section. These resources explain in detail what sets TASC and TASC member companies apart from other companies in the debt settlement industry, and why TASC membership is important.

Several things set TASC apart from other industry organizations. One is that TASC members proudly advertize their association with TASC. The TASC website lists all member companies, provides contact information, and links to their individual websites. Another difference that separates TASC from other organizations is TASC favors legislation to protect consumer rights. The debt settlement industry as a whole is mostly unregulated. Other debt settlement organizations believe in a free market system, believing that bad companies and bad practices would be weeded out by consumer dissatisfaction and word of mouth. TASC, on the other hand, prefers to have mandates in place that protect consumers upfront, instead of waiting idly by while companies take the money out of people’s pockets without ever performing any of their contracted services. As detailed on the website, the ultimate goal of all of TASC’s efforts is to provide the best possible services available to consumers.