Debt Shield today published its “Slide to Financial Ruin” illustration on its website to inform indebted consumers about the different legitimate debt relief options.
The illustration, which features a playground slide graphic, shows different debt relief options at different points on the slide to indicate where in the progression of debt consumers typically seek each option. As you progress down the slide, the financial situation represented at different points worsens, and the slide introduces stronger debt relief measures, such as debt settlement and bankruptcy.
“Our experts developed this chart so debtors can easily compare and determine which debt relief options can help them solve their debt problems,” said Phil Fewster, CEO of Debt Shield. “Choosing the wrong debt relief option will create more financial hardship, so we hope people trying to get back on their feet will benefit from studying this illustration.”
Fewster pointed to the 75 percent dropout rate for consumer credit counseling clients- with some reports showing as high as 90 percent- as well as the 65 percent dropout rate for bankruptcy filers who cannot afford to complete Chapter 13 repayment plans. He also said that pushing consumers into debt relief options that they cannot complete only prolongs their indebtedness, which also prolongs the financial and personal stress associated with high levels of debt.
The “Slide to Financial Ruin” shows consumers which solution is most appropriate based on different financial situations faced by debtors. The information illustrated in the “Slide” is based on statistics, facts and expert opinions. To view the “Slide” illustration, visit Debt Shield’s website.
About Debt Shield
Debt Shield, Inc., is a debt settlement company dedicated to helping consumers resolve their unsecured debt through mutually agreeable and discounted lump sum settlements in consideration of legitimate financial hardships. By helping consumers avoid bankruptcy, Debt Shield provides a service for both debtors and creditors.