Oh I tried so hard to let this quote just drift past me, but I confess, I just can’t.

In a press release sent out by The Association of Settlement Companies (TASC) today, (source) the executive director of TASC, Dave Leuthold, is quoted as saying:

“Consumers wrestling with their ability to pay their credit card debt often can be best served by the debt settlement process.”

After much pondering, which included a bathroom break to mull this over, I still for the life of me can’t figure out how an industry with a 10% success rate can make any sort of claim that consumers in financial trouble are best served by the debt settlement industry.

Maybe what he meant to say was that consumers with financial problems are best served up to debt settlement companies. Now that I’d believe.

Now if Davey means that the standard debt settlement process, which seems to be the taking of front loaded fees, not offering full refunds for services not performed, and leading clients to getting sued, then I’d have to absolutely agree with him. But I seriously doubt that is a statement TASC would actually make

You got to hand it to TASC for creativity when they can take the implementation of new consumer protection legislation and use to sell debt settlement, almost the opposite of consumer protection. It almost feels like this press release was proceeded with a “Watch This!” and laughter retort before it went out.

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