Do-It-Yourself Debt Settlement Training Program Helps Consumers Avoid Bankruptcy

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Faced with tough new bankruptcy rules, consumers are turning to do-it-yourself debt negotiation and settlement as an honorable and ethical alternative to bankruptcy.

Consumers are learning how to negotiate with their creditors and settle their own debt obligations without the need for professional third-party intervention, according to, one of the nation's leading providers of self-help financial advice for struggling consumers.

Since the new bankruptcy law went into effect in October 2005, debt-strapped American consumers are urgently seeking alternatives to formal bankruptcy. Yet a recent survey of consumers who went through a mandatory credit counseling session prior to filing bankruptcy (as required under the new law) showed that 97% of debtors could not qualify for a traditional debt management program. Debt settlement through creditor negotiation provides many of those debtors with a realistic alternative to traditional debt management or formal bankruptcy.

According to Charles J. Phelan, founder and President of, many consumers can avoid bankruptcy if they educate themselves about the possibility of negotiating compromise solutions with their creditors. "Many of the debtors who cannot qualify for a debt management or credit counseling program can still make do-it-yourself debt settlement work as a viable solution," Phelan says. "It's the most flexible approach available, and it gives consumers a way to tackle their debt problems head-on while maintaining dignity, privacy and self-respect."

Phelan recommends the do-it-yourself approach to debt negotiation and settlement because it gives consumers complete control over the process. Instead of paying thousands in fees to a professional firm, consumers can apply 100% of their available resources to eliminating problem debt. "The average consumer really can settle their own debts and save a lot of money in the process," Phelan says. Another key advantage of this approach is that it provides consumers with maximum flexibility in dealing with unexpected expenses or variations in income from month to month.

For additional information on do-it-yourself debt settlement, free resource articles are available at A free 32-page consumer report is also available for immediate download.


Charles J. Phelan has been helping consumers avoid bankruptcy since 1997. A former executive with one of the nation's largest debt settlement firms, Phelan launched to provide an affordable alternative to professional debt services.'s audio-CD training course is supported with personal one-on-one consultation and follow-up coaching, and the program successfully helps debt-challenged consumers achieve professional results for a small fraction of the usual cost.


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