Market Leader Credit Solutions Saves Consumers 56.5% Off Debt In February, Continuing Record Streak

Dallas, TX (MMD Newswire) March 5, 2010 - Debt settlement leader Credit Solutions customers saved an average of 56.5% off their total debt in February. This marks the record eighth month in a row Credit Solutions helped consumers save over 50% off the outrageous interest, penalties, and fees plaguing many American's today.

Credit Solutions saved consumers $13,943,449.11 in February, settling $24,700,100.07 in consumer debt on 4,586 accounts. In other words, consumers for whom Credit Solutions negotiated $24,700,100.07 in settlement offers with creditors last month paid off their credit cards at 43.5% - less than half of the total amount owed. For instance, if a consumer owed $10,000, he would have the opportunity to settle the account for $4,350, a $5,650 savings.

"This marks the eighth month in a row that our expert Settlement Advisors have settled our clients' average debt below 50 percent," said Credit Solutions' VP of Operations, Heather Carmichael. "These are responsible families who want to repair their lives after financial devastation, often due to unforeseen medical emergencies or the bottomless hole caused by excessive fees and sudden interest rate hikes."

Settlement companies like Credit Solutions act on consumers' behalf, negotiating directly with creditors to facilitate repayment of consumer debts at a reduced percentage of the total owed. Upon completing a debt settlement program, all of the consumers' debts included in the program are "settled," or resolved with zero balances. Banks and creditors benefit as well, unlike in Bankruptcy where no one wins.

Two recently published academic studies found that debt settlement provides the greatest consumer welfare of any debt-relief approach, calling it part of the healing process to get distressed U.S. households back on sound financial footing.

Since its 2003 inception, Credit Solutions has assisted more than 250,000 U.S. customers in becoming debt-free, settling more than $1.2 billion total of consumer debt. Debt settlement increasingly offers benefits to consumers as the most immediate form of debt relief available in today's tenuous economy.

About Credit Solutions
Market leader Credit Solutions is recognized by the American Business Awards for the "Best Customer Services Department in Financial Services." A charter policy partner of the United States Organization for Bankruptcy Alternatives (USOBA), Credit Solutions is certified by BSI Management Systems for USOBA best-practice compliance. For more information, visit www.creditsolutions.com. En español: http://espanol.creditsolutions.com. Follow us on Twitter at www.Twitter.com/smartsavingtips.

For media inquires, contact (888) 832-2692 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

###