Debt settlement on average saves consumers $2.64 for every $1 in fees paid, boasts a report released last month by the American Fair Credit Council, an industry association of companies operating in the debt settlement industry that have agreed to a strict code of conduct.
The AFCC-commissioned report is based on a study of 400,000 consumers with 2.9 million accounts enrolled in debt settlement programs from Jan. 1, 2011, through March 31, 2017, and was created by national certified public accounting firm Hemming Morse LLP. The report also states that more than 95% of debt settlement clients receive savings in excess of fees and that most participants see their first account settlements within four to six months of starting th…
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