Debtmerica Website Disclaimer: Last Updated as of July 26, 2011
*Clients that are able to make the monthly program payments generally experience a 50% reduction of their enrolled balance before fees, or approximately a 29% reduction after payment of fees over a 24-48 month period. Individual results may vary based on ability to save sufficient funds and complete the program, the creditors in your individual portfolio, and amount of debt enrolled. Statements made are examples of past performance and are not intended to be a guarantee that your debt balances will be lowered by a specific amount or percentage, that you will be debt free within a specific time period, or a guarantee of future settlement results. Debtmerica, LLC guarantees it will not receive any fees until the terms of your debt have been altered with one or more of your creditors. While our programs work aggressively to reduce your debt balances, creditors are under no contractual obligation to negotiate or accept settlement offers. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice and we do not provide credit repair services. Please contact a tax professional to discuss tax consequences of debt settlement. By providing your contact information, you agree to receive return telephone calls, emails or other communications from Debtmerica, LLC and/or its affiliates and expressly waive any “No Call” preference or registration. Photographs used are not actual clients. Debtmerica, LLC is not affiliated with MSNBC, Fox, CBS, 500/5000 or OCBJ and logos used are registered trademarks of their respective owners. Programs not available in all states. Read and understand all program materials prior to your enrollment.
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 environmentLos 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.
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 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.
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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.
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Debtmerica has had one vision since inception - to help Americans nationwide attain financial independence. At Debtmerica, we're proud of our achievements and honors. They represent our commitment to our vision and clients. |
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Top Articles to Help You Lead A Debt-Free Life
- Debt Consolidation: “Debt Consolidation” is one of the most commonly misunderstood and misinterpreted personal finance strategies that consumers inquire about all the time. While some view it as a method of taking on new loans, others see it as a debt relief alternative. It is more important than ever for inquisitive consumers to have a very strong understanding of exactly what debt consolidation entails, and the impacts it can have on personal finances.
- Debt Relief: Debt relief is defined as a partial or total forgiveness of debt. When the term is used by the government, it usually refers to the forgiveness of debt to underdeveloped countries. Recently, it has begun to refer to the millions of consumers who are overwhelmed with debt seeking financial relief from their unsecured debt.
- Credit Card Debt: Credit card debt is an example of unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.
- Debt Settlement: Debt settlement programs use a third party to negotiate lower balances and interest rates on unsecured debt. This type of debt management plan helps provide consumers an alternative to bankruptcy while reducing your outstanding debt.
- Credit Counseling: There are a numerous options for consumers who want to start getting their finances under control after accumulating large amounts of debt, which could inevitably lead to credit problems further down the road. Consumers who are in control of most aspects of their finances, but still feel like they could use additional help managing their debt burden, could certainly benefit from the assistance of a consumer credit counseling service.
- How Do I Get Out of Debt?: Now that the national economy is beginning to recover and people are having a better time dealing with their personal finances, many consumers who found themselves sunk deep in debt over the last few years may be asking themselves the question, “How do I get out of debt?” Fortunately, there are a number of avenues consumers can take to get out of debt, each with benefits and drawbacks depending on how quickly people need to fix their financial problems.
- 10 Tips to Avoid the Debt Trap: Have you ever thought about why so many of the people you know are struggling with debt? Do you ever wonder why banks keep lending to certain individuals, even when they are falling behind on their payments? Did you know that debt problems are a leading cause of major societal problems, such as stress, divorce and alcoholism?
- Credit Management: Many consumers are finding themselves buried under a pile of mounting debt. With interest accumulating month after month in addition to late fees being charged, many consumers are finding it difficult to make just the minimum payments on their credit cards. Although this may seem like an endless battle, with a strict budget and some discipline there are credit management strategies and solutions that will allow consumers to reduce or even eliminate their debt.
- Credit Card Debt Reduction: In recent months, many Americans have made a greater effort to seek credit card debt reduction and reduce the balances they owe, but some may not know where to start. Fortunately, there are several options available for consumers thathave a financial goal to achieve credit card debt reduction.
- Credit problems: Paying down high levels of debt is one of the best ways to improve credit problems and increase one’s credit standing. But many people cannot do that so quickly, especially in this economy. About one-third of a credit score is based off of a credit utilization ratio, which is the total creditbalances divided by the total credit limits. A great target is to use no more than 30% of one’s available credit.
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