Minneapolis, MN, January 29, 2010 --(PR.com
)-- Responding to increasing public concern over debt settlement practices, consumers now have access to online training that teaches them how to analyze their financial condition and select a debt relief solution that complies with their situation. Global Debt Systems has developed a free pre-debt relief e-learning curriculum, which is available through their website.
Each of the debt relief options uses a very different approach to debt reduction and the solutions must be clearly understood to determine its suitability. Consumers seeking assistance from credit counseling or debt settlement services should not treat the program as a solution that provides protection from creditors. Bankruptcy is the only solution that offers protection to consumers. It is a legal solution, enforceable by the courts and executed according to legal guidelines. Some consumers will want its power to halt a creditor’s collection efforts or stop a pending lawsuit.
None of the debt relief solutions can salvage a credit score. Consumers struggling with debt should not ignore the problem by doing nothing. There are options available; however, each strategy should be fully explored before making any decision. The adverse effects can be fatal to one’s life and family.
“No matter which debt relief option is chosen, they all should reduce either the interest rate charged or the amount of debt owed, and will serve to increase consumers’ economic welfare by freeing up more of their money to pay for other necessities,” states Global Debt Systems Chief Consultant Boun Vilailath. “The course serves to not only educate consumers, but also teach them how to detect unscrupulous debt relief service providers.”
The Pre-Debt Relief Course launches in February. It consists of a four-course curriculum that educates consumers about credit and debt, and proceeds to clarify each debt relief option. All non-profit organizations, churches, and community clubs are welcome to preview the course.
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.