Debt Settlement- Debt Relief Guarantee

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 27, 2008 -- "They all want to get paid and it is not cheap," says Tom Bates, Founder and CEO of Absolute Debt Solutions. "You will spend at least 12% of your total debt for your average debt settlement company to assist you in settling your unsecured debts. That is in addition to the continuing late fees from the bank."

So, he says a debt settlement company's advertisement that reads 40-to-60% savings is not really accurate and he advises reading the fine print.

"There is the issue of taxes when the 1099c comes from the bank," says Bates. "There goes another 4-12% based on the amount saved. So the sales pitch of 40-to-60% just fell to 25-35% saved. Well, if all they are going to get you is 25-35%, why do you need them? You don't. You need a company that has a track record that produces real debt settlements, with a solid guarantee. Plus, if they are so good at what they do, then why pay them one dime until the work is guaranteed? You don't pay anything 'til the car is back and running from the mechanic, right? How about the pool man or the yard man, or even the barber? Are you going to pay before your hair is cut? No -- and you should not pay 'til your debts are settled according to a signed guarantee."

Some companies come highly recommended and come with endorsements and affiliations. Bates says not to be fooled by meaningless certificates; many of these companies have paid thousands of dollars to become members of these organizations. On top of that, these organizations have no say in the acts of the company. In fact, Bates says, many of these organizations are run by owners and directors of settlement companies.

"The BBB, to my knowledge, has never been to any of their offices," says Bates. "Unless the company is certified and there are standard follow up procedures on a weekly or monthly basis, a framed certificate or trophy of affiliation is worthless. Accountability is everything."

Bates questions why people who are already in a financial decline should create more debt to resolve the problems they already have. He says the situation may get even worse than the one they're already in. If consumers pay a debt settlement company regularly for one or even two years, they will have paid thousands of dollars they can't afford and have saved little for the settlement unless they have a solid guarantee. "This does not sound to me like these companies have the consumers' best interests in mind," says Bates.

In most cases, creditors can and will settle for pennies on the dollar with the right approach. But Bates asks why consumers should pay anything until the work is done and guaranteed? Bates says debt settlement, like many other industries, should charge based on results.

"No debt settlement company can help you unless and until you have money to use for settlement," says Bates. "So until you have these funds, they are simply a mail box for you. And, should they stop the calls from the collectors, that's great -- or is it? If the bank can't call and can't write, what can they do? They can and in most cases will, file suit. Though a law suit is not the end of the world, they are not much fun. They will still settle, but at a much higher rate."

After more than a decade in the credit and finance industry, Tom Bates has developed a Debt Settlement company to assist consumers without being taken for a ride. Absolute Debt Solutions promises consumers pay nothing more than what is guaranteed for settlement, plus all graduates of the debt settlement program will receive free credit repair. For more information, please visit www.absolutedebtsolutions.biz.

Tom Bates,CDA
CEO,President
Absolute Debt Solutions, Inc.

More information can be found online at http://www.absolutedebtsolutions.com

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