Debtmerica Press Releases

Debtmerica’s New Programs Are Well Received by Clients:

Company’s Performance-based Programs are Fully FTC Compliant, While Some Competitors Go Astray

Los Angeles (Vocus/PRWEB) March 31, 2011 - Debtmerica, LLC, a professional debt settlement Company that recently restructured its business model to comply with new FTC regulatory standards, is pleased to report that consumers are very receptive to its new debt resolution programs. In the first quarter of 2011, Debtmerica realized a surge in demand by consumers for its performance-based debt settlement programs, a significant improvement over the receptiveness of former programs where consumers were required to pay up-front fees. The new contingency programs are more effective for clients, as savings funds are accumulated more rapidly to enable faster completion of creditor settlements.

The Federal Trade Commission (FTC) ruling which went into effect October 27, 2010 created a ban on upfront fees charged by debt settlement firms. This ruling was fostered by feedback from some consumers who were excessively charged debt settlement fees by a subset of firms but received little relief from their debts in return. Although this ruling protects consumers from firms that were taking advantage of people, unfortunately, it also hurt the good reputations and consumer perception of legitimate companies who actually worked very hard to deliver excellent results to their clients.

“At Debtmerica, our staff all participated in making sacrifices so we could continue to pursue our mission of helping Americans become debt free and remain so. To see that consumers are readily engaging in our new debt resolution programs and achieving faster settlements is a significant milestone,” says Harry Langenberg, managing partner and Chief Operating Officer.

With this new ruling in place, unfortunately many less stable service providers have sought sanctuary by partnering with law firms who claim exemption from the FTC rule and continue to assess substantial up-front fees to consumers through these so-called “attorney model” debt settlement firms. Given the inherent restrictions placed on legitimate service providers by the FTC rule, some service providers felt they had no other alternative than to work around the contingency fee constraints or to close up shop. Debtmerica believes that these “attorney models” are nothing more than a temporary loophole in the FTC rule and expects the FTC to scrutinize the service providers operating in this manner. Debtmerica is also a proponent of states adopting regulations consistent with the FTC ruling while also allowing firms to assess a fair fee for services rendered.

“Debtmerica has worked tirelessly to adapt to the new FTC rule and is not gambling that any loopholes in the law will successfully circumvent it. While Debtmerica was well prepared to weather the challenges in our industry, we are warning consumers to be very careful about engaging with other companies that have chosen riskier business models that may jeopardize their stability and the success of their client programs,” explains Jesse Torres, Debtmerica’s other managing partner.

About Debtmerica Relief

Debtmerica Relief, headquartered in Orange County, CA, provides assistance to families who are experiencing financial difficulties and hardship. Its focus on negotiated debt settlement provides a very powerful solution with the ultimate goal of helping its clients become debt free and remain so. To date, the Debtmerica Team has enrolled over 10,000 clients into debt resolution programs and helped clients get back on their feet financially.

A Member of The Association for Settlement Companies (TASC), Debtmerica was recognized in 2009 and 2010 as an Accredited Organization in Compliance with TASC Best Practices Standards. Debtmerica was honored in 2009 and 2010 as one of the “Best Places to Work” in Orange County by the Orange County Business Journal (OCBJ), and was also ranked #3 in the OCBJ's "Fastest-Growing Companies" in Orange County. Additionally, Debtmerica made rank on Inc. Magazine’s 2009 and 2010 INC. 500/5000 list as one of America’s fastest-growing private companies.

Debtmerica Honored as One of the Best Places to Work, Two Years in a Row

Debtmerica, LLC, a nationwide provider of debt resolution programs for consumers ranked #11 on the Orange County Business Journal’s "Best Places to Work" List.

Los Angeles (Vocus/PRWEB) October 4, 2010--Debtmerica, LLC, a negotiated debt resolution firm providing services to consumers nationwide, announces its inclusion on the Orange County Business Journal’s (OCBJ) Best Places to Work list for the second year in a row. The top 45 companies were featured on OCBJ’s Best Places to Work Special Report and List which was published on September 27 th , 2010.

Companies were separated into 3 different categories based on number of employees. With a total of 46 employees at the time of survey, Debtmerica made ranks as Orange County’s 11th best place to work in the small-sized category. Participants were given an extensive two-part survey. One part included a questionnaire where employers answered detailed questions about company culture, benefits, and leadership and the second part was a confidential survey given to employees. Survey answers and data were distributed, collected and analyzed by an independent third party, Best Companies Group based in Pennsylvania.

Those firms honored on the list are recognized for their dynamic work environment, exhibiting exceptional characteristics of open communications, professional respect and support, work/life balance, equitable remuneration and rewards, strong teamwork, and healthy camaraderie.

Yearly volunteer events, a Company softball team, bowling events, and quarterly outings are just a few ways Debtmerica encourages team-building while rewarding employees for a job well done. Customer service and integrity are emphasized at the Company and monthly contests recognize and award its debt professionals who demonstrate exceptional customer service and assistance to a large number of clients.

"We try our best here at Debtmerica to foster an atmosphere where employees enjoy coming to work each day while also encouraging productivity and achievement of goals. Feedback from our employees is extremely valuable and it is a true honor to be on the list as one of the best places to work in Orange County," says Harry Langenberg, Co-Founder and Managing Partner of Debtmerica, LLC.

About Debtmerica Relief

A Member of The Association for Settlement Companies (TASC), Debtmerica was recognized in 2009 and 2010 as an Accredited Organization in Compliance with TASC Best Practices Standards. Debtmerica was honored in 2009 as one of the “Best Places to Work” in Orange County by the Orange County Business Journal (OCBJ), and was also ranked #3 in the OCBJ's "Fastest-Growing Companies" in Orange County. Additionally, Debtmerica made rank on Inc. Magazine’s 2009 Inc. 5000 list as one of America’s fastest growing private companies.

Debtmerica Applauds New FTC Rules and Proudly Launches a Performance-Based Debt Settlement Program

The Debtmerica team is eager to participate as an industry leader under the new and consumer aligned debt settlement environment

Los Angeles (Vocus/PRWEB ) September 2, 2010 -- Debtmerica, LLC, a nationwide leader in offering debt settlement services for consumers, today launched its new 100% performance-based debt settlement program which is aligned with the new Federal Trade Commission's regulations. Consumers enrolling in this exciting new program, named "Performance100™", will not pay any fees until settlements are reached with consumer's creditors. Debtmerica intends to pilot this new service through its most experienced and qualified debt settlement consultants and anticipates a complete transition well in advance of the October 27, 2010 deadline as mandated by the Federal Trade Commission. The performance-based program will be available to any client that inquires.

"We feel that these new regulations will get rid of debt settlement firms that are not able to deliver the services they advertise, leaving the honest, legitimate, and financially stable firms to serve the needs of consumers," says Jesse Torres, co-founder and CEO of Debtmerica.

The FTC announced its final rule on July 28, 2010, which will apply to all providers of debt settlement services and mandates enhanced disclosure requirements by the end of September. One other aspect of the regulation prohibits debt settlement providers from accepting fees from a consumer for debt settlement services prior to the actual settlement of enrolled debt balances with the consumer's creditors, which is to take effect in October. Unlike other firms that adamantly opposed the FTC banning advanced fees, Debtmerica has taken a proactive and leading role by making preparations for months to transition its business model to one that simply makes better sense for the industry and consumers.

Debtmerica's additional co-founder and COO, Harry Langenberg, states, "We are very excited about the future of the debt settlement industry since the recent FTC ruling was released. We believe these requirements are going to help clean up an industry that has been running wildly out of control. Our mission has always been to deliver an effective product for consumers in need of debt relief and for the past two years, it has been very difficult to operate in a marketplace that was ridden with unscrupulous and fee-addicted companies. Now debt settlement providers will be held accountable both legally and financially to make their programs successful, and if they cannot, they will be out of business."

Today, Americans owe approximately $2.5 trillion in consumer debt – not including mortgages. The average American with a credit file holds more than $10,000 in credit card debt. Debt settlement is a much needed and effective form of debt relief that allows providers to negotiate directly with creditors on the consumer's behalf to resolve the consumer's unsecured debt balances. Unfortunately, it is has been challenging for consumers to select reputable providers and some companies took advantage of these consumers which left many individuals in a worse position than they were prior to entering the program.

"At Debtmerica, compliance and adherence to the rules is our first order of business. It is our goal to help foster an industry of reputable and compliant providers for those consumers looking for options of debt relief and root out those companies misleading consumers." says Torres.

A Member of The Association for Settlement Companies (TASC), Debtmerica was recognized in 2009 and 2010 as an Accredited Organization in Compliance with TASC Best Practices Standards. Debtmerica was honored in 2009 as one of the "Best Places to Work" in Orange County by the Orange County Business Journal (OCBJ), and was also ranked #3 in the OCBJ's "Fastest-Growing Companies" in Orange County. Additionally, Debtmerica recently made rank on Inc. Magazine's 2010 Inc. 500 list as one of America's fastest growing private companies.

Debtmerica Revisits Inc. 500|5000 List, Ranking in the Top 500

Los Angeles (Vocus/PRWEB) August 27, 2010 --Debtmerica, LLC, a provider of debt resolution programs for consumers, achieves a ranking of #184 on the Inc. 500|5000 list of America’s fastest-growing private companies. Previously ranked #748 in 2009, this is the second year that Debtmerica has been included on the prestigious Inc. Magazine list. The firms are ranked based on their percentage of revenue growth from 2006 through 2009.

"This honor is a big pat on the back to all the staff of Debtmerica that have worked cohesively to support our clients and our mission. We are blessed to have strong management capabilities throughout the firm and a very motivated team. Most importantly, we appreciate our partners and our clients that have chosen to work with Debtmerica in a very competitive marketplace. Without them, we would not have made it on this list," says Harry Langenberg, Co-Founder and Managing Partner of Debtmerica.

Comprised of the top 5,000 fastest-growing privately-held companies in the nation, the Inc. 500|5000 list offers an extensive look at America’s entrepreneurs. The average annual revenue growth of Inc. 5000 companies has decreased from 106.3 percent last year to 45.8 percent. With an annual growth rate of 1,549%, Debtmerica has grown considerably faster than the average during this time period.

Inc. Magazine breaks down their list further to show the top 100 fastest-growing companies by region and industry. Debtmerica places high on both lists as the 13th fastest-growing company in the Los Angeles region and the 13th fastest-growing company in the Financial Services sector.

Debtmerica also attributes its major growth and success to its constant emphasis on integrity, compliance and customer service. Striving to remain at the forefront of industry rules and regulations, Debtmerica is an accredited member of TASC - a nonprofit trade association for the debt settlement industry that protects the interests of consumer debtors and lobbies on behalf of its members and the industry as a whole. Debtmerica debt consultants are required to become IAPDA certified shortly after employment, which requires comprehensive training and examination.

Jesse Torres, Co-Founder and Managing Partner of Debtmerica, states "Debtmerica is looking forward to remaining an industry leader in the years to come, not only from a growth perspective, but by also setting a good example of utilizing best practices. Our clients, partners and staff are all stakeholders in our growth and compliance, and their interests are our main priority."

About Debtmerica Relief

A Member of The Association for Settlement Companies (TASC), Debtmerica was recognized in 2009 and 2010 as an Accredited Organization in Compliance with TASC Best Practices Standards. Debtmerica was honored in 2009 as one of the “Best Places to Work” in Orange County by the Orange County Business Journal (OCBJ), and was also ranked #3 in the OCBJ's "Fastest-Growing Companies" in Orange County. Additionally, Debtmerica made rank on Inc. Magazine’s 2009 Inc. 5000 list as one of America’s fastest growing private companies.

Debtmerica Helps Foster Teens Learn Real World Personal Finance Strategies

Debtmerica, LLC teamed up with the Orangewood Children’s Foundation to help foster children learn to manage personal finances with an all-day event set in a fictional “Independent City.”

June 17, 2010 -- On Saturday, April 24, Debtmerica, LLC teamed up with the Orangewood Children’s Foundation to help foster children learn to manage their personal finances with an all-day event set in a fictional “Independent City.”

Volunteers helped construct and operate “Independent City,” which simulated some of the day-to-day challenges faced by adults in modern American society. Orangewood’s foster teens were able to learn valuable lessons about paying for housing, child care, groceries, and utilities at various stations in the exhibit, which was held in Irvine, California’s Pretend City Children’s Museum.

In a letter thanking Debtmerica volunteers after the event, Orangewood volunteer services program manager Kristi Piatkowski - who had previously lauded the assistance of Debtmerica volunteers for their assistance at another event last year - said that “the youth learned about money management through their workshops,” and added that “the volunteers were wonderful in making sure that the day was educational and fun!”
Piatkowski also noted that without Debtmerica’s support, both financial and in-kind, the event would not have happened.

Harry Langenberg, one of the Managing Partners of Debtmerica, spoke on behalf of his team, “we are very proud to be part of Orangewood’s mission. Debtmerica is a big proponent of giving back to the Community where it can, and Orangewood’s programs enable our entire staff to get involved and contribute to a wonderful cause.”

The Orangewood Children’s Foundation’s goal is to help eliminate the neglect and abuse of children in Orange County, California. The foundation works to accomplish this on four main fronts: Strengthening families to prevent abuse from occurring in the first place, protecting children from abusive homes from physical and emotional violence, emancipating teens from abusive families, and promoting enhanced public awareness of the challenges faced by children raised in such damaging environments. This last goal has been the area in which important partners like Debtmerica have been able to do the most good for the foundation’s kids.

Debtmerica is a financial services company that provides assistance to families who are experiencing financial difficulties and hardship. Headquartered in Orange County, CA, Debtmerica focuses on negotiated debt settlement, a powerful debt relief option which helps clients get debt free and remain so. By actually reducing debt balances over the course of the program and providing an affordable monthly payment, consumers can experience lasting benefit to their financial well-being. Debtmerica was recently named one of the “Best Places to Work” in Orange County, CA, where it also was awarded for being the third Fastest Growing Company in 2009.

About Debtmerica

Debtmerica is a leading debt settlement company that offers assistance to individuals and families who are experiencing financial difficulties and hardship.

We offer debt resolution programs that specialize in negotiated debt settlement that assists clients by reducing debt balances while providing an affordable monthly payment.

Our professional and knowledgeable staff has helped thousands of consumers get back on their feet financially.