"Would you let your credit score drop temporarily by 200 or more points if you could reduce your credit card debt by 50 percent?"
New York, NY (PRWEB) October 23, 2013
National Debt Relief is excited and humbled to announce the results of its latest consumer survey. Using the powerful Google Consumer Surveys platform, the company commissioned a simple survey that aimed to tease out an important link between consumers' credit scores and the public's general appetite for debt reduction services. National Debt Relief looks forward to putting the survey's results to use in the service of its ever-expanding slate of consumer-facing debt reduction activities.
This one-question survey posed a straightforward scenario to a random slice of Internet-using adults: "Would you let your credit score drop temporarily by 200 or more points if you could reduce your credit card debt by 50 percent?" The survey was conducted over the course of 96 hours during late August of 2013. It received more than 4,000 total impressions and elicited about 1,525 responses.
Using survey respondents' demographic, geographic and income data, Google Consumer Surveys' analytic tools winnowed the number of valid responses down to just over 1,100 and created a statistically significant pool from which to draw conclusions. The finalized survey results paint an interesting and consistent picture of consumers' relationships with their credit scores. Individuals who struggle with unsecured debt or have reason to expect that they will encounter such struggles in the future would do well to read the full survey report at http://www.nationaldebtrelief.com.
Although National Debt Relief's analysis of the survey's results is ongoing, the company has made some broad judgments about the responses that it received. In particular, it is clear that consumers hold their credit ratings in extremely high regard. Just 16 percent of survey respondents expressed a willingness to accept a credit-score hit of 200 points or more in exchange for a 50 percent reduction in their outstanding debt load. Although high-income suburban males were somewhat more flexible than low-earning females who live in urban areas, the survey's results generally cut across demographic and geographic lines.
This is consistent with the results of previous studies that measured consumers' opinions of their own credit scores. For a host of reasons, Americans have a collective aversion to taking steps that might directly or indirectly reduce their credit scores. Since the country's consumers use more credit than borrowers in virtually every other developed country, they have a clear understanding of the risks of poor credit. Every year, thousands of consumers who wish to buy a home or car find themselves unable to do so as a result of an imperfect credit rating.
According to years of established research as well as National Debt Relief's own experience with its valued clients, many of these fears are misguided. While it is true that poor credit can prevent consumers from obtaining much-needed loans, housing and employment, the credit-damaging effects of National Debt Relief's debt reduction strategies pale in comparison to the long-lasting effects of Chapter 7 or Chapter 13 bankruptcy.
National Debt Relief wishes to remind current and prospective clients that managed debt relief's credit-score effects are temporary and often minimal. Although results may vary considerably, many NDR clients are able to repair their credit scores during the time that it takes to complete the company's debt relief programs. Within two to four years, most are able to put their debt problems behind them and mount a fresh financial start.
Additionally, National Debt Relief's survey highlights lingering misconceptions about the forces that drive credit ratings. Since credit rating agencies use sophisticated probability models to assess the credit risk that each individual consumer poses, National Debt Relief's managed debt relief plans often have minimal credit-score effects. Consumers who have subpar credit scores of 600 or less often experience a relatively small change in their "headline" credit rating numbers after entering NDR's program. By contrast, consumers with "prime" credit ratings of 700 or higher may notice a larger impact.
Going forward, National Debt Relief pledges to use the results of this seminal consumer survey to educate its customers and improve the quality of its debt-relief services.
About Google Consumer Surveys
Google Consumer Surveys is a full-service survey-management tool that operates as a division of Mountain View, California-based Google. The platform provides incentives for consumers to provide relevant information and automatically analyzes their responses in a matter of hours or days. Its results are vetted with extremely high levels of rigor and can stand up to the toughest statistical analyses.
Google Consumer Surveys works with start-ups and established businesses alike. For more information on the platform and its myriad uses, visit http://www.google.com/insights/consumersurveys/home.
About National Debt Relief
New York-based National Debt Relief is a leading provider of managed debt reduction services for consumers across the United States. Since its founding in 2009, the company has helped thousands of consumers reduce their debts by meaningful amounts while planning for more stable financial futures. It serves people from all walks of life and is proud to tailor its plans to the needs of each individual client.
Unlike other forms of managed debt reduction, National Debt Relief's program is open to borrowers with relatively low levels of outstanding debt. The company's debt counselors are capable of negotiating significant reductions to most forms of unsecured debt, including personal credit lines, outstanding credit card debts, medical bills and business loans. In specific circumstances, National Debt Relief may be able to reduce certain secured debts that have been attached to repossessed or worthless assets.
National Debt Relief is also positioned as a leading source of information about credit, personal finance, debt-related topics and long-term planning. The company's website offers a wealth of articles on these subjects and routinely adds new content to serve current and future customers. Its easy-to-navigate homepage also contains important information about its services as well as common alternatives.
For more information about National Debt Relief's history, corporate mission and services, visit http://www.nationaldebtrelief.com. To learn more about the company's debt reduction techniques and results, call 888-703-4948 and ask to speak with a trained debt counselor. For additional support and information, use the built-in live-chat feature on http://www.nationaldebtrelief.com or fill in the site's contact form.