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Global Debt Systems

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Global Debt Systems Releases Debt Settlement eBook

A free eBook introducing a comprehensive professional training program updated with the timeliest information, prepared in the most useful way.

Minneapolis, MN, December 25, 2009 --( The previous industry certification training for debt settlement professionals have proven futile. In response to the growing outcry from industry regulators and consumer protection organizations, Global Debt Systems has produced a comprehensive training program for debt settlement professionals. It challenges current practices that regularly fail to produce results promised to consumers. It builds upon the insight of industry experts and consumer advocates who have collaborated to develop this e-learning curriculum, which is available through the company's website.

After many years of rising profits, credit card companies are experiencing record losses in 2009. As consumer-friendly provisions in the Credit Card Act are scheduled to take effect, card issuers are working quickly to limit losses by slashing credit limits and raising interest rates – even on accounts in good standing and to consumers with high credit scores.

For millions of consumers mired in debt, settling debts by negotiating with creditors is a preferable alternative to bankruptcy and more effective than credit counseling. Unlike solutions that either re-arrange the repayment schedule or liquidate all assets, debt settlement resolves the debt in full by negotiating a reduced lump sum payment with creditors.

Creditors are motivated to accept a reduced amount immediately in satisfaction of the debt after experiencing a long period without payment on a delinquent account. They prefer debt settlement rather than spending time and money pursuing legal remedies that are costly, time consuming, and offer no guarantee of success. Lenders are further motivated to act quickly before other creditors assert their claims if the consumer is in default on multiple credit obligations.

“Some creditors may consider the settlement firm and other creditors as competitors for the debtor’s limited funds,” states Boun Vilailath, Chief Consultant at Global Debt Systems. “Their resolution may be to file a lawsuit and obtain a judgment. These actions move them in the front of the line to be re-paid.”

The eBook introduces the debt settlement training program. The program provides an in-depth analysis of credit card lending and collection practices and makes conservative forecasts of future market conditions by examining the current state of consumer delinquencies. Certifications are awarded upon completion of the entire eight-course curriculum. Early registration discounts are available. The introductory free eBook is available for download through the company's website.

About Global Debt Systems
Global Debt Systems improves the process of resolving delinquent consumer debt by training and outreach efforts designed to create mutually beneficial results for creditors, consumers, and debt counselors. We provide e-learning services to companies and organizations that educate and advocate for ethical business practices.

Located in Minneapolis, Minnesota, the company donates time and a portion of its profits to various non-profit organizations that promote responsible budgeting and financial management.

Contact Information
Global Debt Systems
Boun Vilailath

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