President of TASC, Chris Kesterson, writes to Consumer Reports Magazine
Mar 18, 2009"We all know these are challenging economic times when people are forced to make difficult decisions, which is why your article “Financial Traps are Flourishing” concerns us..."
Dear Editor:
We all know these are challenging economic times when people are forced to make difficult decisions, which is why your article “Financial Traps are Flourishing” (March 2009) concerns us. The piece, critical of the debt settlement industry in general, failed to mention the specific ways our services can be positive, viable debt relief solutions for consumers seeking an alternative to bankruptcy. We at The Association of Settlement Companies (TASC), like Consumer Reports, want to help consumers, not harm them.
That’s why we found it regrettable that the author neglected to include some key points made by our legislative director during his interview. TASC wants to weed out the bad companies just as much as our critics, which is precisely why we have our members audited and regulated.
Consumers fall into various categories of financial hardship, and there is no “one-size fits all” solution. The article did not present an alternative for consumers who can neither afford to make the required payments on their unsecured debts, nor the required payments in a non-profit credit counseling program (which are as much as double the required payment in a debt settlement program).
Those experiencing financial hardship should look for companies that are members in good standing of TASC; that list can be found at www.tascsite.org
Sincerely,
Chris Kesterson
President
The Association of Settlement Companies