Back in April I published an article A Call, Make That a Scream, for Transparency in the Debt Settlement Industry that asked debt settlement companies to disclose key metrics about their services so consumers could make informed decisions when deciding who to work with.
U.S. Debt Resolve was the first company to step-up and immediately embrace openness and transparency. Now I’m proud to say New Era Debt Solutions is also willing to be open and honest about the services they provide.
These companies, New Era Debt Solutions and U.S. Debt Resolve are rare open companies at a time when most debt settlement companies and their trade associations want to hide instead of embracing openness.
In my call for openness I asked legitimate debt settlement companies to revel the answers to the following questions.
- Cost of program.
- Link to debt settlement program terms and conditions.
- Ongoing success rate of past clients that settled only some debt.
- Ongoing success rate of past clients that settled all debt.
- Average length of time in the program.
- Average settlement amount.
- Customer satisfaction data.
- Percentage of clients that were sued for a debt that was included in the program.
- Percentage of clients that continue to get collection calls while in the program.
- Reason why clients left the program before settling all debts, broken into category.
If you look at this page on the New Era Debt Solutions site you will see the information New Era has now published in order to help consumers.
Way to go New Era.
So who has the confidence to step up next and answer the challenge?