Debt Settlement Success Makes National News

The Chicago Sun-Times recently reported on a successful debt settlement story that resulted in the consumer saving $15,150 using an accredited debt settlement provider, New Era Debt Solutions.

Here is an excerpt from the article, titled “Debt manager put to the test” by Terry Savage:

Peter entered the program with $26,700 in debt on one credit card. He initially paid $800 as a retainer fee (of which, $400 was eventually returned to him).

New Era obtained a settlement that required Peter to pay only $7,185 to the card issuer, and an additional $3,605 in settlement fees, plus the $400 reduced deposit.

Peter saved — or, more accurately, avoided paying — $15,510. His credit report will show the debt as “settled for less than full balance.”

His reaction: “What a relief! I was fairly skeptical, and I know you were too,” he told me. “But the beauty of these guys was they didn’t take any money up front. It took them several months but they were right in saying that you have to wait a while to get a good settlement.

The truth is, we in the debt settlement industry see hundreds of satisfied consumers every day, grateful for the service provided and financial burdens lessened. As with any service industry, there are bad actors that can cast a negative light on an entire industry– but USOBA and other accreditation entities advocate for consumer protection and education, urging consumers to do their homework and avoid the debt settlement red flags.

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19 Responses to Debt Settlement Success Makes National News

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