First, a review of the difficulties facing American consumers:
According to one survey, 28% of U.S. households have at least one member that is looking for a full-time job. A recent Pew Research survey found that 55 percent of the U.S. labor force has experienced either unemployment, a pay decrease, a reduction in hours or an involuntary move to part-time work since the recession began.
Meanwhile, in its current annual report, the US Department of Agriculture stressed that some 50 million Americans were not able to afford enough food to stay healthy at some point in 2009. It also noted that one in eight adult Americans and one in four children now survive on government food stamps. These are unbelievable numbers for the world’s richest nation.
Rather, today’s debt management programs use negotiation tactics as the foundation of their efforts. In this manner, debt such as credit card debt and medical bills can be either settled for a significantly reduced amount, or in other cases interest rates, fees, and penalties can be reduced.