About Debt Settlement

Most of the major Debt Settlement Companies belog to TASC  The Association of Settlement Companies.  The  goals of TASC are to promote good practice in the debt settlement industry, protect the interests of consumer debtors, and lobby on behalf of debt settlement companies on the federal and state level.

Debt settlement companies act on behalf of consumer debtors to help them clear their debts. They do this by entering into direct negotiations with creditors in order to facilitate the repayment of debts. In return for their services, debt settlement companies are generally paid a fee by the consumer debtor. In order to avoid any hint of impropriety, TASC members do not handle, manage, or otherwise control their client’s funds.

Membership of TASC is reliant upon debt settlement companies being able to demonstrate that they comply with the standards set out in the TASC bylaws.

The bylaws have been developed in consultation with a number of debt settlement companies, discussions with different states’ legislators, and major lenders. The aim of the Bylaws, and that of TASC, is to encourage debt settlement companies to provide services of the highest standards to ensure the public and the credit industry’s confidence.

Mission

In order to effectively improve the nature of the debt settlement industry, TASC is an organization with a mission to protect the interests of consumer debtors while simultaneously regulating debt settlement business practices through a series of bylaws designed to heighten the standards of debt settlement companies.

TASC members, who are some of the top debt settlement companies and debt remedy advisors in the country, seek to promote this mission for the good of the consumer through adhering to these bylaws in order to improve practices and relations within the debt settlement industry.

Goals

Through its promotion and utilization of its bylaws, TASC works tirelessly to realize its goal of an improved and fairly regulated national debt settlement industry. Designed with the needs of both the consumer and the debt settlement company in mind, TASC’s bylaws are a proactive approach to achieving this goal in that the TASC bylaws encourage debt settlement companies to operate under the highest of standards while also addressing the concerns of the industry and its participants as a whole.