S&N Embraces Findings of American Fair Credit Council Debt Negotiation and Settlement Report

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S&N supports the high ethical standards of the American Fair Credit council.

The AFCC (American Fair Credit Council) in 2012 undertook an ambitious yearlong project that provided some very valuable economic analysis of the financial outcomes of 1.1 million individual credit card accounts held by 170,000 individual consumers who participated in debt settlement programs during the period from 2006 – 2012. S&N Debt Solutions, as a member of the AFCC, acknowledges the findings as something that was very necessary.

Prior to the release of “Options for Consumers in Crisis: An Economic Analysis of the Debt Settlement Industry,” in 2013, it was relatively easy for critics to question the efficacy and viability of debt negotiation and settlement because there were no significant in depth industry studies available to demonstrate the strong role debt settlement plays in turning around the lives of hardworking, but financially struggling, Americans. Now we have such a report.

The AFCC engaged Greg Regan, a nationally recognized forensic accountant with Hemming Morse LLP, to head up the yearlong study. S&N Debt Solutions asked Robert Linderman Vice President of the AFCC, what he saw as the most prominent highlight of the comprehensive Regan study. He said this; “We discovered a great deal from the study but one of the most eye opening facts is that debt settlement clients have, on average, experienced a $3.15 of credit card debt reduction for every single dollar paid as fees for services provided.” Here is a link to the entire study.


In order to protect consumers from deceptive sales practices, including companies that charge fees in advance of providing any services, in 2010 the FTC amended its Telemarketing Sales Rules to prohibit the charging of fees in advance of actually settling the related debt. The AFCC, as the leading industry debt negotiation and settlement association, embraced those changes; AFCC membership is limited to companies like S&N Debt Solutions that do not charge advance fees, unlike nonmembers who may not support the FTC’s conditions and requirements. Robert Linderman said this to S&N; “It is important that the public appreciate that our members distinguish themselves as companies who value the important responsibility they have to assist financial challenged American consumers. AFCC members adhere to the highest ethical standards and business practices. The AFCC promotes and values full disclosure and honesty in all phases of our business.”

Robert Linderman also made this point; “Today’s consumer may be a little more educated about the benefits of debt negotiation and settlement, but even if they are not, we are ready to explain the benefits of debt settlement as compared to filing bankruptcy or paying off credit card balances over time”.

S&N believes that one easy thing a consumer can do is to check to make certain that the company they have chosen to settle their credit card debt is a member of the AFCC. Membership means that they subscribe to the associations “Best Practices” and apply those standards every day of the year.

About S&N Debt Solutions

S&N is one of the leading unsecured and credit card debt settlement companies in America. Since its inception, S&N has focused on providing its clients with an unparalleled program that allows individuals to pay-off unsecured and credit card balances for negotiated amounts, frequently 50% less than what they owe.

S&N’s mission is to help hard working Americans who have suffered during this financial crisis of high unemployment and lower wages to regain financial independence.

In addition, S&N is committed to educating their clients about budgeting, money management, and savings. S&N has produced a financial literacy section on their website that helps and motivates their clients to turn their financial lives around.

S&N offers a sound alternative to bankruptcy, debt consolidation and consumer credit counseling by providing programs and services that are both professional and compassionate.

S&N Debt Solutions is a for-profit, private company and is not affiliated with the credit reporting agencies or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer. It is our goal to improve the quality of life for our clients. S&N is a supporting member of the American Fair Credit council.

About Liberty Publishing:

Liberty Publishing has been providing cutting-edge content to financial institutions, financial advisors, CPAs, insurance professionals, real estate agents, and fee-only financial planners for over three decades. Our financial, economic, and tax content has become the standard by which all others are judged.

Liberty conceptualizes, researches, writes, and designs financial copy for dozens of newsletters, financial booklets, brochures, and reports for the nation’s major banks, insurance companies, and broker dealers.

Liberty takes all personalized communications from the drawing board through the final production process. The customer-focused teams assembled at Liberty represent a diverse group of professionals who offer the best of experience from their fields. Their expertise is in learning and understanding their clients’ needs, and then executing the specific actions that will meet or exceed their expectations.

Written by:
M. Jeffrey Rosen, CLU, ChFC
Liberty Publishing, Inc.
800-722-7270 ext 122


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Jeffrey Rosen
liberty Publishing, Inc.
+1 800-722-7270 Ext: 122
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