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Finance Industry News
PRESS RELEASE ARCHIVES FROM SEND2PRESS® NEWSWIRE
NOTICE: THIS IS ARCHIVAL CONTENT AND LIKELY OUT OF DATE.
Article Editor: Christopher Laird Simmons
Attitude Survey Reveals That 1 Out Of 4 American Consumers Is Having Difficulties Paying Monthly Credit Card Bills
SAN DIEGO, CA - July 26, 2004 /Send2Press Newswire/ -- On July 20th, Best Debt
Solution (BDS), a Debt Settlement company and Bright Credit, Inc a Credit Counseling
company joined efforts to conduct a survey into the understanding of U.S. Consumers'
awareness and attitudes relating to getting help with their personal debt.
The survey concluded that:
- 1 out of 4 of American who has 4 or more major credit cards is having
difficulty paying their credit card bills.
- Over 58% have or would look for help from their financial or tax
consultant while over 41% would look to the Internet and 24% would follow
the advice of an independent newspaper columnist.
- TV, radio and newspaper advertising have very little impact on the
people's choices other than to create company name awareness.
- Over 70% of the respondents felt that the vital or extremely important
elements in making a choice were:
- The amount of fees paid to the company
- The length of the program
- The certification of counselors,
- The effect on credit score,
- The stopping of creditors calls,
- The record from the Better Business Bureau
- And the length of time to cancel without a penalty.
- 43% of the respondents would choose credit counseling as opposed to 26%
who would chose debt settlement and 33% who are undecided. This is
surprising when compared to recent marketing research that reported that
about 2 million Americans are serviced by credit counseling annually while
less than 100,000 are helped by debt negotiation.
250 people were randomly chosen to fully completed the survey and were equally
spread amongst the ages of 25 and 55 years old although slightly less than two
thirds of the respondents were male (62%). Two out of three of the respondents are
homeowners (66%) and are either employed or living with a full-time employed spouse.
About Best Debt Solution, Inc.
BDS has been in existence for 17 years and is a bonded and insured corporation. Its
mission is to help consumers with severe hardship get out of credit card debt by
negotiating lump sum payments for each one of the debts as funds become available.
The average length of the program is 36 months. BDS has a team of dedicated debt
relief consultants who have been trained and certified by the Institution of
Consumer Financial Education (ICFE) in reading, understanding and communicating the
information found on credit reports, which is just one component of our free
professional consultation.
BDS's processing company manages over $150 million of
debt for thousands of clients and has saved consumers over $40 million. For more
information visit www.BestDebtUSA.com or call 1-800-254-0171.
About Bright Credit, Inc.
Bright Credit, Inc's mission is to help consumers with difficulties get out of debt
by reducing credit card interest rates and the monthly payments by up to 50% and
eliminate or reduce finance charges. The average length of the program is 50 months.
Bright Credit, Inc is partnered with a full-service 501c3 non profit certified
credit counseling agency to negotiate the best possible repayment plan with
creditors.
For the past three years, the agency has successfully helped over 5,000
individuals and families across the United States and Bright Credit has earned an
outstanding reputation for integrity and effectiveness by having all staff members
fully trained and certified therefore achieving the highest possible customer
service rating.. For more information visit www.BrightCredit.com or call
1-800-699-9740.
Organization Website:
www.BrightCredit.com
Source of News:
Bright Credit, Inc. and Best Debt Solution, Inc.
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