Los Angeles, CA (PRWEB) August 18, 2009
Whether the current economy is categorized as a "downturn," a "recession," or the worst economic meltdown since the Great Depression in the 1930's, consumers are feeling the pinch. Families and individuals are confronting growing personal debt resulting from a perfect storm of record job losses, slashed housing values, investment losses, reduced business profits and less available credit.
A rising tide of debt negotiation, debt consolidation, debt settlement and debt counseling services have surfaced to "help" consumers with their debt. However, some of these services (even so-called "non profits"), are financed by the banks and credit card companies, instead of operating in the consumers best interests. This resulted in a "Senate Investigation Into The Non-Profit Consumer Counseling Programs." Click the following link for more information: http://effectivefinancial.com/senate-investigation-part-1/190/
For over ten years, "Debt Free" Daniloff, President and CEO of Effective Financial Solutions, (http://effectivefinancial.com), has helped over 4500 clients reduce their debt. Effective Financial Solutions is a debt relief company with a team of professional negotiators who effectively eliminate a significant percentage of consumer credit card debt and other unsecured debt.
Since some debt settlement company's advertise remarkably large potential savings, Daniloff is often asked, "How much debt can an individual realistically expect to have reduced?"
Daniloff answers, "The truth is, the settlement percentage that is the industry standard runs between 43% and 45% of what is owed. That is the average settlement percentage." He further notes that there are circumstances that have resulted in his clients paying quite a bit less, but they are unusual.
For more information regarding "The Truth About Debt Settlement Percentages" and what to expect, visit the following link: http://effectivefinancial.com/true-settlement-percentages/523/
Effective Financial Solutions has recently launched a new website that features news and information about the credit card industry, credit scores, consumer debt and consumer rights. The website features articles, tips and updated resources for getting out of debt and handling finances responsibly.
"The first thing to understand about debt is that there are solutions," says Daniloff. Credit card users have become trapped into the idea that they are at the mercy of banks and credit card companies and that there is nothing that can be done about excessive interest rates, and escalating fees. Based upon years of experience, Daniloff remarks that many individuals are unaware of their rights that protect them from aggressive collection practices.
Daniloff explains, "Effective Financial Solutions offers a free debt consultation service that is customized to each individual's circumstances and encompasses the four primary paths towards getting out of debt." Not every individual's financial situation is the same, but simply gathering the facts about the available options for getting out of debt, while simultaneously having the opportunity to ask questions, can be a relief for many people.
Effective Financial Solutions is dedicated to educating individuals about debt solutions, so they may forward their lives without the stress of overwhelming debt. More importantly, Effective Financial Solutions does not work for the banks or credit card companies, and instead, operates on the side of the consumer, helping individuals understand their options for getting out of debt.
Effective Financial Solutions is a proponent of ethical standards inside the debt settlement industry, as well as an advocate for adhering to compliance with the Federal Trade Commission. Educating individuals on how to reduce debt, without bankruptcy, is an integral part of the Effective Financial Solutions free consultation.
Contact Effective Financial Solutions for a no cost "Debt Relief Consultation" and learn the facts about the four ways to get out of debt, and how they apply to your specific financial circumstances.
To find out more about ethical debt settlement, contact Effective Financial Solutions by calling "Debt Free" Daniloff at 866-998-5551 (toll free) or visit http://effectivefinancial.com
About Effective Financial Solutions:
"Debt Free" Daniloff, President and CEO of Effective Financial Solutions, has helped over 4500 clients reduce their debt, over the past 10 years. Effective Financial Solutions is a debt relief company with a team of professional negotiators who reduce consumer credit card debt and other unsecured debt by negotiating directly with creditors, on behalf of consumers.
"Debt Free" Daniloff, President and CEO
Effective Financial Solutions