Industry-Leading Credit Solutions Represents Financially Besieged Consumers at Federal Trade Commission

DALLAS--(Business Wire)--
Credit Solutions will speak at a Federal Trade Commission (FTC) public forum
tomorrow in Washington, D.C. on behalf of the hundreds of thousands of U.S.
consumers who`ve achieved debt freedom through debt settlement - and in support
of effective state regulation of the U.S. settlement industry.

The FTC forum is exploring proposed amendments to the federal Telemarketing
Sales Rule, which aims to address nationwide consumer protection regarding
debt-relief services. A recent survey conducted by the United States
Organizations for Bankruptcy Alternatives ("USOBA"), a debt settlement trade
Association found that a straight out ban on pay as you go fees as proposed by
the FTC will likely force 84% of respondents to shut down their debt settlement
services, by forcing debt settlement companies to shoulder substantial
out-of-pocket costs, potentially for years, possibly without reimbursement.

"Credit Solutions is grateful for the opportunity to provide an active voice for
over 100,000 of our clients and hundreds of thousands of Americans currently
overwhelmed with debt," said Credit Solutions CEO Doug Van Arsdale. "Credit
Solutions strongly supports the respected, 118-year-old Uniform Law Commission
and the Uniform Debt Management Services Act. Webelieve that the FTC should
follow the path of several states and, rather than banning all fees before
settlement of debt, apply some restrictions."

Crafted after an extensive, multi-year study, the UDMSA provides expansive,
comprehensive regulation of all existing debt counseling and management services
options via Registration, Agreements and Enforcement Provisions which has met
the approval of industry state regulators, associations and consumer groups; has
been adopted in more than a half dozen states; and is pending introduction or
enactment in more than a dozen additional states.

"State legislatures and the ULC have determined that debt settlement providers
can serve consumers effectively when properly regulated, and, in a legitimate
exercise of their police power, have determined to regulate them in a certain
way to protect their own citizens," Van Arsdale said.

Over the past two years, Credit Solutions has played a leading role as an
advocate for regulation by supporting strong, uniform state laws that protect
consumers and hold companies accountable, and by testifying in favor of state
legislation that requires:

* licensing & bonding of all U.S. settlement companies to protect consumers`
fiscal safety
* adequate disclosure of debt settlement programs` risks to consumers` credit
scores
* operational transparency, including independently audited financials

"We support the UDMSA and concur that for-profit and not-for-profit debt
resolution activities must be regulated equally in order to create regulated
consumer options," said Heather Carmichael, Credit Solutions` VP of Legislative
Affairs.

Credit Solutions submitted more than 40 pages of data and written testimony for
FTC consideration. Heather Carmichael, Credit Solutions` VP of Legislative
Affairs commented on the submission, "Hopefully this will foster a greater
understanding about the contribution debt settlement plays in the lives of
financially strapped consumers."

Some examples of submitted testimony included:

"Without [CSA`s] help in negotiating with companies and paying off my debt at a
reduced percentage of overall debt owed, I don't know where I would have ended
up. . . . "

"Our financial situation was wreaking havoc on our young family and it was
completely out of our control. . . . Credit Solutions gave us a life line and
has been helping us settle our debt by allowing us to save our money in our bank
and paying our creditors directly from our bank. We have control of our money
and finally feel like we are making progress to be financially stable once
again. . . ."

"I'm very thankful for Credit Solutions. They offered me a viable solution that
has changed my financial outlook forever. . . . I thank Credit Solutions for
helping me out. They lived up to their end of the bargain and I lived up to my
end."

About Credit Solutions

The nation`s debt settlement industry leader, Credit Solutions is recognized by
the American Business Awards for the "Best Customer Services Department in
Financial Services". A charter policy partner of the United States Organization
for Bankruptcy Alternatives (USOBA), Credit Solutions is certified by BSI
Management Systems for USOBA best-practice compliance. For more information,
visit www.creditsolutions.com.

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Credit Solutions
Press, 888-832-2692
press@creditsolutions.com

Copyright Business Wire 2009