Denver, CO (PRWEB) February 24, 2009
As Debt Regret wraps up its 2008 fiscal year, the company reports phenomenal results. Highlights for the year include saving clients over $1,000,000 in December alone and receiving the TASC Best Practices Accreditation earlier in 2008.
It was no small feat to achieve the levels of success reached by Debt Regret in the final 31 days of 2008. With over one million dollars saved on behalf of their clients, through debt settlement, Debt Regret continued to solidify its reputation as a reliable agent working on behalf of hard-pressed Americans in a difficult market. As the economic recession has driven millions of people into untenable situations, Deb Regret has recognized an opportunity to become a leading company in the market of debt settlement, by representing the interests of people struggling under the weight of excessive debt.
Debt settlement first came into being during the early 1990s. Over the past decade as banking practices were deregulated, questionable lending practices came into use. These practices were made to appear attractive even as they weakened the financial underpinnings of the economy. Banks began carrying increasing amounts of unsecured liabilities on their books. Credit card debt rose sharply, with attendant interest rates climbing to nearly 30%. Out of this unstable scenario, banks began to lose vast amounts of money on unpaid credit. As a result, they established debt settlement departments to negotiate with credit card holders. This allowed banks to recover at least a portion of the funds owed rather than losing all of it to bankruptcy. It was in this environment that Debt Regret was formed, committed to negotiating on behalf of the debtor, with a goal of forgiving some debt while allowing creditors to retrieve a portion of outstanding funds owed.
Since inception, debt settlement companies have continued to fine-tune their practices and service. While there are many companies that offer debt settlement, Debt Regret stands out for its reputation of saving its clients significant sums, such as those reported this past December. Debt Regret is also proud of the fact that in 2008 it underwent rigorous examination of their business practices and services and passed with flying colors. The examination was carried out by independent third-party auditor, BSI Management Systems, before receiving the TASC Best Practices Accreditation from them. This accreditation acknowledges the ongoing work of Debt Regret on behalf of their clients.
Today, Americans live in a tough economy where the average household carries approximately $8000 in credit card debt. Given this situation, many Americans seek out alternative solutions. Debt Regret stands tall on behalf of those in need. Debt Regret is a stable and growing company and offers very real solutions to extremely difficult problems.