Debt Settlement Association Shares Concerns, Promotes Consumer Protection

With last week's actions from the New York Attorney General, TASC reminds consumers and critics that it promotes fair business practices, consumer protection and industry standards for the debt settlement industry

Madison, WI (PRWEB) May 16, 2009 -- The Association of Settlement Companies (TASC) is committed to providing a valuable service to people in financial distress and is reminding consumers and critics that it continues to promote fair business practices, consumer protection and industry standards for the debt settlement industry.

TASC is a non-profit watchdog organization for debt settlement companies, priding itself on holding its member companies to the highest of business ethics and standards, as evidenced by its member guidelines. These guidelines, which can be found on tascsite.org (http://www.tascsite.org), steer companies on how to best help consumers manage debt and get them back on their financial feet.

"We monitor, regulate and endorse reputable debt settlement companies," Chris Kesterson, President of TASC, said. "Our members take their responsibilities to consumers seriously, yet we still encourage responsible conduct."

For people looking to avoid the consequences and stigma of bankruptcy, TASC's debt settlement member companies offer a viable alternative. Debt settlement programs require the "setting aside of funds" to negotiate settlements. As a form of consumer protection, TASC members are prohibited from handling, managing or otherwise controlling their clients' funds.

In order to maximize customer satisfaction through consistent results, all companies joining TASC are assigned provisional status until they have been shopped secretly twice within a 30-day period so that the membership committee can verify that they are compliant with all guidelines. In addition, current members are shopped secretly each quarter.

TASC and its 200+ members perform a valuable service for consumers seeking debt relief. While debt settlement may not be the ideal solution for everyone, it can often be a good solution for those fitting a certain financial profile.

About The Association of Settlement Companies

The Association of Settlement Companies (TASC) promotes fair business practices, consumer protection and industry standards for the debt settlement industry. TASC, founded in 2005, serves to protect consumers through an organization seal that represents best practices and standards of reputable companies. The organization also protects its member companies through lobbying efforts at the state and national levels, as well as awareness initiatives to educate consumers on debt settlement as a financial solution. All TASC member companies pledge compliance to strict association bylaws governing business practices and ethics. For more information, visit tascsite.org (http://www.tascsite.org).    

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