Debt Education Company Raises the Standard on Consumer Debt Settlement Plans
Professional training program that systematically forecasts the foreseeable future Minneapolis, MN (November 27, 2009) Debt settlement companies now have access to online employee training that teaches counselors how to run an ethical Confidence in the industry has dramatically declined. The Federal Trade Commission proposes to create strict rules under amendment 16CFR Part 310, commonly known as the "Telemarketing Sales Rule," requiring debt settlement companies to better disclose how debt settlement works and restricting their ability to charge up-front fees to consumers. Debt settlement companies are notoriously bad at the financial calculations involved in consumer Debt Settlement Programs (DSP). However, those companies are not solely responsible for the failures of consumer plans. All parties involved can, and do, disrupt the settlement process. Each consumer entering into a DSP has his or her own unique set of circumstances, and those circumstances can change More of these early program terminations could be prevented if circumstances are foreseen. For instance, Global Debt Systems’ DSP model calculates balance inflation, which results in a more realistic and reliable estimate being provided to consumers. "The more accurate the initial estimate, the more confidence the consumer will have in the program," said Boun Vilailath. "And, the more the client can save toward negotiations, the quicker settlements could be paid, while minimizing penalty fees. To maximize the success of a DSP requires that clients immediately begin saving as much as possible, as soon as possible." The e-learning curriculum, updated with the most recent regulatory and legislative activities, starts in December. Certifications are awarded upon completion of the entire eight-course curriculum. Early registration discounts are available. For more information, visit About Global Debt Systems Global Debt Systems improves the process of resolving delinquent consumer debt through training and outreach efforts designed to create a more mutually beneficial result for creditors, consumers, and debt settlement providers. The company provides e-learning services to companies and organizations that educate and advocate for ethical business practices. Located in Minneapolis, Minnesota, the company donates time and a portion of its profits to various non-profit organizations that promote responsible budgeting and financial management. Learn more about Global Debt Systems at Contact Boun Vilailath Global Debt Systems 612-234-1806
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