Free Credit Counseling Services offering mutiple debt solutions begin to take there place in the Credit Counseling arena.

    /24-7PressRelease/ - July 23, 2007 - Many credit counselors are comming out of the non-profit world to enviornments offering a wider range of solutions for people overcome by debt problems. No longer does the non-profits debt consolidation program reign supreme. For profit corporations are springing up in responce to the need to offer a wider variety of viable debt solutions to people oppressed by debt. While debt consolidation programs definately have there place in this new array of debt ending programs, there are to many times when it simply does not work over the long term. Drop out rates from these debt consolidation programs also called debt management programs are quite high because they were perhaps not the best solution to begin with. The new monthly payment and interest rates paid by the debtor upon entry into the program is controlled by the banking industry, not the non-profit. Contrary to popular belief there is no negotiation on behalf of the debtor by the non-profit. The new terms are simply whatever each bank is willing to allow. Additionally, accounts which have been sold to collectors or referred for collection may simply not accept reasonable payment terms and continue to seek liens and judgements.

In many cases the more viable option is debt settlement. Todays debt settlement programs are evolving into safety nets. One such company offering a safety net debt settlement program is American Debt Enders. As part of its arsenal of debt solutions, the consumer chooses the repayment period, 1 to 5 years. The lenght of time determines the monthly payment. This leaves the debtor able to structure a settlement program that he or she can afford. The debtor is then given over to a network of settlement attorneys who take over the process. All contact from the creditor to the debtor is now diverted to the consumer law network. The conumers rights under the Fair Debt Collections Practices Act are called into play. Harassing phone calls stop. And ultimately, the debtors credit restored as the settlements are made. This type of debt settlement program represents a huge seed change in the settlement industry.

What if a refinance is called for. The best credit counseling companies can offer a refinance quote and compare all three options for the debtor. Debt Consolidation, Debt Settlement, or Refinance. This is clearly credit counseling at its best. The solution is determined by what fits rather than a sales pitch.

No doubt the credit counseling industry will continue to evolve as americans continue to pile up record levels of debt.

About American Debt Enders
American Debt Enders is a for profit free counseling service formed as a DBA in 3/2006 and owned by Anna Ciantro.

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