to do business the right way.
Grapevine, Tex. (PRWEB) September 8, 2009
The Anderson family - Zack, sister Nicole and mother Linda, will tell you when they founded American Debt Control four years ago it was "to do business the right way." The numbers say they are succeeding.
The company marked its fourth anniversary in August, and when the accountants closed the books at the end of the month it was clear American Debt Control has established itself as a standard bearer for the debt settlement industry during that time. Key numbers include:
- More than $24 million = debts settled
- Less than $10 million = amount clients paid creditors
- 39% = average percentage of total debt clients actually paid
Zack Anderson, president, says not all clients see the process through to completion, but those who have done so over the past four years have done even better, settling at 37 cents on the dollar. Anderson said he is pleased with the cumulative numbers, but he is especially gratified by his company's recent trends in reducing credit card debt.
"In 2008 our clients settled debts, on average, at 31 cents on the dollar, which is substantially below the industry average," Anderson said. "That is a very high level of performance to sustain over the long haul, but so far in 2009 we've been pretty close."
"As debt levels have surged upward in the past two years - especially credit card debt - many creditors have begun to realize that in some circumstances, debt settlement may be the best solution for them, as well as for our clients," Anderson added.
Factoring in American Debt Control's fees for services, clients have paid an average of 51 percent of total debt, which puts the company's fees of 12-13 percent among the lowest in the debt settlement industry. Nicole Anderson said the company spreads its fees out over several months so clients can begin retiring debts faster. That is one reason ADC's business is growing rapidly, now doing more business settling credit card debt each quarter than it recently did in a year.
Linda Anderson said customer success stories are especially rewarding to American Debt Control employees. She cited one case in particular in which a client who, through some bad breaks and perhaps a few bad decisions, found herself with more than $20,000 of unsecured debts, mostly credit card debt.
"She was very pleased when we put her on a course to settle all debts in three years, but when we were able to do the job in six months for less than $4,000 she was overjoyed," Linda Anderson said.
American Debt Control passed another significant milestone earlier this year when it became Best Practices accredited by The Association of Settlement Companies, the professional association for the debt settlement industry.
TASC-accredited companies are evaluated against nationally recognized standards to assure sound, ethical business practices and adherence to the highest levels of quality, service and integrity. TASC accreditation reduces risk to consumers by assuring the member company has been independently evaluated by a third party for its competence and capabilities.
About American Debt Control
American Debt Control, LLC, is a full-service, family owned debt settlement company that is "Best Practices Accredited" by The Association of Settlement Companies and has more than 10 years of experience helping financially distressed people become debt-free and take back control of their lives. Our knowledge and solid relationships with banking and collection institutions nationwide help our clients reach favorable settlements, become debt-free and stay that way without the lasting stigma of bankruptcy. Get our special report, 12 Questions to Ask Before You Hire a Debt Settlement Company, without charge. For more information, call American Debt Control toll-free at 1-866-861-8894, or visit our Website, http://www.americandebtcontrol.com.
Mark Cummins, Vice President of Operations
American Debt Control, LLC
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