Dave VanderVeer has developed a consumer self-directed debt settlement approach. I had the pleasure of discussing his approach and software with him. You can hear the full interview below.
As Dave observed, consumers are getting bombarded by many debt settlement companies making false promises and charging high fees upfront for services they may never deliver.
Using the SelfDirectedDebtSettlement.com approach the consumer can create a repayment plan that will debit their bank account and deposit the money in the consumer’s escrow account. Once funds are available to settle the account the consumer can direct the creditor to be paid.
Dave has some concerns over products like ESP Software that blur the line and seem non-compliant with proposed legislation that limits the fees and services of debt settlement companies.
I think you’ll find the approach new and the interview is worth your time if you want to learn more about how the system works and how everyone makes money and get paid.
Currently they are charging an enrollment fee of $199 and then 5% of their debt, this will most likely change shortly to be a $50.00 enrollment fee and 10% of the amount people SAVE using the program – to comply with the new law.