Debt Settlement in the Credit Eco System [Podcast]

Show Notes

As the headwinds of a turning economy impact more and more consumers, understanding how #debtsettlement fits into the credit ecosystem makes for a timely conversation. Teresa Dodson, founder of Greenbacks Consulting and the leading expert on debt settlement, stops by #creditecotogo to set the record straight about debt settlement. Consumers enrolled in legitimate debt settlement companies want to resolve their debts; they are not looking for excuses or loopholes from their responsibilities. However, the average consumer looking for assistance from debt settlement companies are juggling 6-8 credit cards at a time. A consumer can try to tackle that reality on their own but more likely it will become overwhelming, Teresa also tells us that consumers’ priorities have flipped. Prior to the pandemic consumers focused on their credit, now consumers are more concerned about paying for their necessities (i.e. food, clothing, shelter and transportation). To meet these new priorities, debt settlement companies will be instrumental in bringing important services to consumers. 

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