Denver, CO (PRWEB) December 10, 2008
Debt Regret was recently awarded the "TASC Best Practices" Accreditation. They underwent the rigorous examination by independent third-party auditor BSI Management Systems earlier this year and were awarded the status of a "Best Practices" business.
From Wall Street to Main Street, the American economy has entered troubling times and an unprecedented financial crisis. The last time our country faced a fiscal crisis of this magnitude it was nearly 80 years ago when the Great Depression gripped the land. Today, homes are being foreclosed and credit grows tighter and tighter. The average American family carries more than $8,000 in credit card debt alone. In times such as these, companies like Debt Regret and their debt consolidation and debt settlement services become an increasingly important part of your financial solution.
In the past year Debt Regret has been stepping forward as one of the premier companies offering debt consolidation services. This most recent acknowledgment of their high quality service comes at the end of a highly successful year.
Achieving a "TASC Best Practices" accreditation is something that is awarded to leaders in quality debt consolidation but some may ask themselves what exactly does that mean.
Debt settlement and debt consolidation can reduce debt balances up to 60%, help eliminate late fees, over-the-limit fees, and high interest rates imposed by creditors. These services can also arrange payment schedules to get individuals out of debt in 12-36 months.
The concepts of debt settlement and debt consolidation are new to many people. Debt settlement started in America less than 20 years ago during the early 1990s. During that time banks were going through deregulation and bad lending practices came into use. Unfortunately, these practices weakened our nation's financial stability. Banks began to carry more and more liabilities on their books. Credit card debt rose sharply. A recession loomed.
It was in this environment that debt settlement was born. Banks were losing so much money that they established debt settlement departments to negotiate with credit cardholders to reduce their balances so that at least a portion of the principal was paid back. This allowed the banks to recover funds that would otherwise have been written off when, and if, the cardholder filed for bankruptcy.
If the situation sounds familiar it is because the financial system is in a similar situation now.
Today, these same banks work with companies like Debt Regret and in many situations, this is the best way to reach settlement.
It has been a difficult year in the financial markets and for this reason Debt Regret has been able to help numerous people out of impossible financial situations. The accreditation that they recently received is an acknowledgment of the ongoing work that they have been doing to help people get out of debt.
For more information visit http://www.DebtRegret.com