Madison, Wis. (PRLEAK) September 30, 2009 – Despite the increasing number of Americans filing for bankruptcy, the Association of Settlement Companies (TASC) is of the opinion that consumers ought to opt for debt settlement as a means to get rid of unsecured debt. The benefits of debt settlement far outweigh that of filing for bankruptcy. Moreover, any damage to a debtor's credit report can be repaired in case of a debt settlement.

A recent report from Automated Access to Court Electronic Records indicates an alarming 6,000 cases of bankruptcy filings per day. All this can be avoided if debt settlement companies are allowed to negotiate with creditors, thereby saving consumers any further damage. Several debt settlement companies are part of the TASC and are in a position to help debtors tackle the situation with creditors. Moreover, consumers will be able to settle for less than the full amount owed.

According to Chis Kesterson, President of TASC, the association's members are well experienced in negotiating with creditors and do so on a daily basis with a number of clients opting for debt settlement. The main advantage of debt settlement is that it could take a mere three-year plan to get out debt, as compared to bankruptcy that could damage a consumer's credit report for 10 years. Bankruptcy is also a time-consuming and stressful process with many terms and conditions attached.

Debt settlement companies were responsible for the return of over $2.2 billion in consumer debt last year. TASC research also indicates that $500 million in settlements is available for credit card companies, which just goes to show that debt settlement could be a viable option for consumers.

About The Association of Settlement Companies
The Association of Settlement Companies (TASC) is the debt settlement industry's watchdog. Founded in 2005, the association's objective is to promote fair practices in the industry, protect the interests of debtors, and spread awareness amongst consumers. TASC also lobbies on behalf of debt settlement companies that are associated with it, at both federal and state levels. It is mandatory for all TASC members to comply with the association's bylaws that govern business practices and ethics. For more information on debt settlement, visit tascsite.org.