NewswireToday - /newswire/ -
Addison, TX, United States, 2006/09/28 - DebtXS™ is a one of the leader in the debt settlement industry, which has recently developed industry wide standards for the debt settlement industry.
DebtXS™, a recognized leader in the debt settlement/negotiation industry, is also leading the drive towards accepted industrywide standards and practices for consumer protection in the rapidly growing fields of consumer debt settlement and alternatives to bankruptcy. An 18-month review process with the Texas Attorney General’s Office, to which DebtXS recently issued an assurance of voluntary compliance, established standards intended to reduce potential confusion or complaints among consumers who enter debt settlement programs.
“The Texas standards were developed in a voluntary process with the Attorney General’s Office, formalizing many standards that have been in place at our company since 2004,” said Ken Talbert, President of DebtXS. “The Association of Settlement Companies(TASC™), the industry trade association of which DebtXS is a board member and founder, has also recently adopted many of these standard disclosures, which help consumers to understand debt settlement and negotiation services.”
Consumer protection via disclosure has been at the forefront of the activities of DebtXS since the company’s founding, and its design and recommendations of disclosure statements to industry associations and trade groups have helped consumers facing financial hardship grasp their alternatives to bankruptcy. As the field of debt settlement grows and laws governing bankruptcy evolve, however, leaders in the field come under scrutiny.
“We acknowledge and accept that as an innovator and one of the fastest-growing companies in our business, DebtXS will receive the attention of regulators,” says Paul Boyd, Executive Vice President of DebtXS. “It’s to be expected, and we consider our cooperation with state officials and regulators as further collaboration in the development of standard disclosures that keep consumers informed.”
DebtXS President and Founder Ken Talbert also serves on the board of directors of The Association of Settlement Companies (TASC™), the trade organization that seeks to protect consumers through better consumer education. Moreover, DebtXS has been a pioneer in consumer advocacy as a founder or board member of the first settlement association NACDSC and later TASC.
DebtXS (debtxs.com) is a recognized leader in the debt settlement/negotiation industry and has been ranked number 17 on Entrepreneur magazine’s Hot 100 list of the fastest-growing companies in the United States (June 2005 issue).
DebtXS was founded by Ken Talbert in 2002 after identifying a need for a company that would empower consumers, with honorable alternatives to bankruptcy, through the personalized and proven services of debt negotiation. DebtXS has grown exponentially and now has more than 150 employees, serving more than 12,000 clients and settling more than $3.0 million in consumer debt each month.
As the industry grows and matures, a steadfast approach will make certain that settlement/negotiation becomes a permanent option for the consumer who is burdened with consumer debt and is facing financial hardship. DebtXS actively works with TASC and other organizations to promote the debt settlement/negotiation industry, as well as to draft new standards and legislation to help consumers.