Americans for Consumer Credit Choice

Americans for Consumer Credit Choice is a membership organization comprised of providers of consumer financial products and services who believe that consumers are entitled to free market choices in selecting financial products and services for their families and that overly burdensome restrictions and regulations severely limit credit choices for those who least have access to traditional credit sources.

AMERICANS FOR CONSUMER CREDIT CHOICE
123 D STREET, SE,
WASHINGTON, DC 20003
(202) 470-4045

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Americans for Consumer Credit Choice Releases Debt Management Industry Study

For Immediate Release:
August 7, 2009
Contact: Jill Warren
(202) 470-4045
jill.warren@consumercreditchoice.org

Concludes Debt Settlement Can Provide Significant Value and Benefit to Consumers Beyond What Credit Counseling Can Provide

Washington, DC – In light of the current economic climate, Americans for Consumer Credit Choice (ACCC) is making public a study to examine the debt settlement industry with a particular focus on results-oriented data and trade practices.

Economic Factors and the Debt Management Industry

Authored by:
Richard A. Briesch, PhD
Associate Professor
Cox School of Business
Southern Methodist University
August 6, 2009

The current economic climate makes the need for debt management programs even more acute. More consumers are finding themselves in financial hardship due to high unemployment, low home equity rates, lack of access to bankruptcy protection, and the “credit crunch” so well documented in the press and by legislators. This economic climate implies that many consumers are one emergency away from financial hardship. There is no question that the multitude of people currently in financial distress need programs that reduce the principal of their debt to stave off bankruptcy (Manning 2009, Plunkett 2009).

AMERICANS FOR CONSUMER CREDIT CHOICE
123 D STREET, SE,
WASHINGTON, DC 20003
(202) 470-4045
WWW.CONSUMERCREDITCHOICE.ORG