Debt Shield Saves $17 Million for Clients in 2008
Consumers saved $17 million in 2008 with Debt Shield, an award-winning debt settlement company.
Columbia, MD, January 31, 2009 --(PR.com)-- The debt settlement professionals at Debt Shield helped clients save more than $17 million in 2008, according to executives at the award-winning debt settlement company.
Debt Shield CEO Phil Fewster explains that the company's team of negotiators speaks directly with creditors on clients' behalves every day to reach mutually agreeable, reduced-balance settlements that financially struggling clients can afford. How much debt a creditor agrees to cancel varies, but in 2008 Debt Shield negotiators averaged 64 percent reductions on outstanding balances.
"The current economic downturn is making it harder for consumers to pay their credit card debts," said Fewster. "When we can reach an agreement between a consumer and a creditor, both sides win because the consumer pays off a debt and the creditor recovers funds that may otherwise have been lost to bankruptcy."
The company's professional debt negotiators settled $27,956,705 worth of debt for only $10,204,148 throughout 2008, for an average settlement of 36 percent.
Fewster said that while he hopes the economy will recover as quickly as possible, Debt Shield's experience and successful track record demonstrates an ability to assist people who fall on hard times and need help resolving their debt.
"Debt settlement has worked for thousands of Debt Shield clients and we are ready to help thousands more," said Fewster.
Debt settlement is an alternative to bankruptcy for people who cannot afford a consumer credit counseling debt management plan. A debt settlement is an agreement between a consumer and creditor to reduce the outstanding balance in consideration of the consumer's financial hardship. Once the settlement is paid, the debt is considered satisfied and the consumer no longer owes the creditor.
About Debt Shield:
Debt Shield, Inc., is an award-winning debt settlement company helping consumers resolve their unsecured debt through mutually agreeable, discounted settlements in consideration of the consumers’ legitimate financial hardships. By helping consumers avoid bankruptcy, Debt Shield provides a service for both debtors and creditors. For more information about Debt Shield, call 1-888-397-7546 or visit the website at www.debtshield.com.
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Debt Shield CEO Phil Fewster explains that the company's team of negotiators speaks directly with creditors on clients' behalves every day to reach mutually agreeable, reduced-balance settlements that financially struggling clients can afford. How much debt a creditor agrees to cancel varies, but in 2008 Debt Shield negotiators averaged 64 percent reductions on outstanding balances.
"The current economic downturn is making it harder for consumers to pay their credit card debts," said Fewster. "When we can reach an agreement between a consumer and a creditor, both sides win because the consumer pays off a debt and the creditor recovers funds that may otherwise have been lost to bankruptcy."
The company's professional debt negotiators settled $27,956,705 worth of debt for only $10,204,148 throughout 2008, for an average settlement of 36 percent.
Fewster said that while he hopes the economy will recover as quickly as possible, Debt Shield's experience and successful track record demonstrates an ability to assist people who fall on hard times and need help resolving their debt.
"Debt settlement has worked for thousands of Debt Shield clients and we are ready to help thousands more," said Fewster.
Debt settlement is an alternative to bankruptcy for people who cannot afford a consumer credit counseling debt management plan. A debt settlement is an agreement between a consumer and creditor to reduce the outstanding balance in consideration of the consumer's financial hardship. Once the settlement is paid, the debt is considered satisfied and the consumer no longer owes the creditor.
About Debt Shield:
Debt Shield, Inc., is an award-winning debt settlement company helping consumers resolve their unsecured debt through mutually agreeable, discounted settlements in consideration of the consumers’ legitimate financial hardships. By helping consumers avoid bankruptcy, Debt Shield provides a service for both debtors and creditors. For more information about Debt Shield, call 1-888-397-7546 or visit the website at www.debtshield.com.
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Contact
Debt Shield, Inc.
Maggie Beetz
1-888-397-7546
http://www.debtshield.com
Maggie Beetz
1-888-397-7546
http://www.debtshield.com
Contact
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