History

From its inception in 2005 TASC (The Association of Settlement Companies) has been at the forefront of promoting and safeguarding the debt settlement industry. Now more than ever TASC needs your support to keep your business in business! Become a member of TASC and join the fight for fair and effective regulation of our industry , protection of the interests of consumer debtors and the promotion of good business practices within the industry. Consider the following:

Before TASC’s existence, Texas passed legislation that as written could have prevented debt settlement companies from enrolling Texas consumers into their program. TASC was formed (at that time, as the Texas Association of Settlement Companies) to solve that problem. TASC hired a lobbyist and worked successfully with the Commissioner to allow debt settlement companies to continue to assist Texas consumers with their debts.

More recently, in Pennsylvania language specific to debt settlement was added to a bill just 2 days before its scheduled vote, and as passed would prohibit companies from enrolling any Pennsylvania consumers after February 5, 2009, and could have prohibited Pennsylvania based companies from continuing all operations after that date. TASC took successful legal action to prevent the State from enforcing that law against any TASC members. In these two instances, Texas and Pennsylvania, TASC was instrumental in keeping debt settlement available as an option for consumers in these States. Without TASC action, both of these States could be on the list of States where consumers would not have such an option available to them.

TASC has stopped legislation that would have seriously impacted the ability to perform debt settlement in the following states: Maryland, Colorado, Iowa, Idaho, Michigan, Missouri, Minnesota, and New Mexico. TASC also has been working through local lobbyists in such States as California, Michigan, New Jersey, Maryland, Ohio, Connecticut and Florida to promote the passage of fair and effective legislation. TASC more recently hired a Federal lobbyist to promote the understanding of debt settlement within both the U.S. Congress and the Executive Branch, particularly the Federal Trade Commission.

Questions?

To learn more about the specifics of the debt settlement industry and debt settlement industry terms, please visit our FAQ Page