Americans for Consumer Credit Choice Releases Debt Management Industry Study

WASHINGTON — 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.

ACCC, with other industry and interested groups, asked Dr. Richard Briesch, Ph.D. of the Southern Methodist University Cox School of Business to conduct an independent objective assessment of the consumer benefit, if any, provided by debt settlement companies. In studying specific sources of concern in the debt settlement industry, such as consumer completion of debt settlement programs, up-front fees, the quality of settlement officers, and overall consumer benefit, Dr. Briesch concluded that debt settlement can provide significant value and benefit to consumers even beyond what credit counseling can provide.