ExcelDebt Relief put out the following press release yesterday that I thought you’d find interesting.
What caught my eye immediately was the claim:
ExcelDebt Relief works to “consolidate your credit cards into one low monthly payment and be debt free in twelve to eighteen months without high interest rates,” explains Grace Collins, spokesperson for ExcelDebt Relief.
Does anyone else think that sets up an unrealistic expect ion for the average consumer?
On their own website they make a different claim:
Terra Holding Group, Inc. dba ExcelDebt Relief advises that clients who make all their monthly program payments pay approximately 51% of their enrolled balance before fees, or 73% including fees, over 12 to 48 months. – Source
According to the State of California, Terra Holding Group, Inc. is a relatively new entity having been registered on June 28, 2011.
Here is the entire release.
ExcelDebt’s Annual Growth of 107% Display’s Promised Results Within Debt Settlement Industry
RICHMOND, CA–(Marketwire – Feb 13, 2012) – ExcelDebt Relief, a Silicon Valley based debt settlement firm, is helping individuals solve a very common problem facing many: debt. Collection agencies, interest rates and late fees have become well known terms amongst many households. We believe ExcelDebt can offer a solution to the constant phone calls from creditors many encounter on a daily basis.
The U.S. Census Bureau projected the total credit card debt carried by an estimated 183 million cardholders to be approximately $897 billion in 2011. In recognition of this difficulty facing the American population, ExcelDebt is offering a simple solution to a complicated problem.
Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.
This company is encouraging people to discuss their outstanding debt problems and gain the knowledge of the options available to them. Many agencies have falsely offered debt assistance involving up-front costs and a lack of results; hence, people have become extremely skeptical about turning to such companies with their financial problems.
ExcelDebt Relief works to “consolidate your credit cards into one low monthly payment and be debt free in twelve to eighteen months without high interest rates,” explains Grace Collins, spokesperson for ExcelDebt Relief. “We have a team of professionals who work through a legally accurate process to provide promised results.”
The focus of this company is to guide individuals and families to financial stability. With years of experience and a dedicated and knowledgeable staff, they have helped a countless number of individuals eliminate debt. They analyze each case individually, than have their expert negotiation team work to reduce the total amount owed. Ultimately, their clients only pay a fraction of the original balance. To make this process easier, a low monthly payment system is set up for clients to pay off the remaining balance.
Their process is simple and easy to understand with a step-by-step guide on exactly what type of results an individual can expect. “We work with our clients to eliminate their current financial problems,” states Collins, “we strive to help individuals build a positive and stable future for themselves and their families.”
For more information, please visit: www.exceldebt.com.
Call toll free at (888) 821-2722 or email at in**@*******bt.com.
Contact Information
Contact:
Jaimie Keary
510.229.4379
The above is a press release from the credit or debt world. The publication of this release by this site is not an endorsement of the release. Submit your press release for free here.
Steve,
Thank you for bringing this to my attention. I was hired by ExcelDebt Relief to
draft this press release. It was due to my misunderstanding during my initial
interview with the spokesperson that there is some incorrect information in
this press release. I will be issuing another press release to correct the
errors, as I definitely do not want the company to be misrepresented on my
personal errors and typos (the 12-18 months was my own oversight and
accidentally wrote 18 instead of 48). The accurate information is in fact on
their own website.
Keepin Them Honest Steve…
Didn’t the company require you to clear public statements through them before distributing it?
Unfortunately, this is another example of a company promising the “magic pill” to debt relief. Getting out of debt is hard any way you look at it – it takes dedication, sacrifice, and hard work. But you won’t see that ad campaign anywhere, will you?
OK, so how does a company that’s been in business all of 7-8 months have an “annual growth” rate of 107%? And 107% of what? Gross revenue? Net profit? Number of enrolled clients? Without some explanation, the headline is meaningless.
Kind of intriguing, isn’t it.