The reason we had a big year is because so many other people had a bad year
Grapevine, TX (PRWEB) January 13, 2009
As the mortgage melt-down became the financial story of 2008, credit card debt continued to take a heavy toll on consumers, as well. Zack Anderson, president of American Debt Control, knows all about the problem; his company had its biggest year ever in 2008.
Anderson has mixed emotions about the situation. "The reason we had a big year is because so many other people had a bad year," Anderson said. "We talk with troubled clients every day, and you can't help feeling their pain as they share their stories. On the other hand, we feel very good about the results we helped them achieve reducing credit card debt."
American Debt Control settled more than $10 million dollars in total debts for its clients in 2008, with most of that coming in the second half of the year, as the financial crisis gained momentum. ADC clients settled their debts for 31 cents on the dollar, well below the national average of 40 cents. ADC clients, in aggregate, saved more than $6.9 million last year.
Clients, such as Patrick Downey, of Omaha, Neb., appreciate American Debt Control's efforts. Downey, who saved more than $14,794 using ADC last year, said, "Based on ADC's performance to date, I would not hesitate to recommend [ADC] to anyone who would ask."
Anderson says his company out performs the industry because of its client-centered approach that focuses on helping people become debt-free in one-to-three years instead of five years or longer. Being known and respected by the financial institutions also helps. "The card companies know when we negotiate a settlement with them that we are giving them straight information that helps their company settle fast and often get a better result, as well," Anderson said.
The outlook for consumers in 2009 is not promising, according to Anderson, who says credit card debt problems will not abate this year. Accelerated home mortgage foreclosures in 2009 also could be bad news for the card companies. People losing their homes are not likely to be as concerned about paying off credit card debt.
As ADC's business continues to grow, the company is taking extra steps to improve service to clients. Already an active member of The Association of Settlement Companies, the settlement industry's professional association, American Debt Control will receive full accreditation from TASC in early 2009.
TASC accreditation is awarded following an independent audit that certifies management systems and services against nationally recognized standards, verifying that a company operates at the highest level of quality, service and integrity.
About American Debt Control
American Debt Control, LLC, is a full-service debt settlement company with more than 10 years of experience helping financially distressed people become debt-free and regain 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. 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