Annually, a conservatively estimated $50 billion dollars of unsecured debts are charged-off and sold by original creditors. At least 60% of that $50 billion are credit card accounts which are sold to third-party collectors (See chart below). Traditionally, there have been only a few methods by which consumers can find relief: debt settlement, debt consolidation, credit card counseling, debt management and bankruptcy.
Based on the intricate details of how debts are purchased and transferred from original creditors to third-party collectors, Panamerican Consulting has identified an opportunity to help consumers beyond the traditional approaches of relief.
One of the disadvantages of most debt relief programs is that consumers have to endure pestering calls from collection agencies and collection attorneys. Per the FDCPA, third-party collectors MUST STOP all collection efforts, communications and reporting to credit bureaus until they properly verify disputed accounts. Our resolution method puts an end to those harassing calls and provides considerable emotional relief to the consumer.
Consumers cherish the possibility of an unblemished credit report and most are concerned with further damaging their credit when considering current debt relief programs. Some traditional debt relief programs offer credit repair services as a complement for an additional charge in efforts to alleviate consumer concerns. Although Panamerican Consulting does not provide credit repair services, our thorough approach ensures that derogatory postings are minimized and often removed, with the exception of those postings from the original creditors.
The most unique attribute of Panamerican Consulting’s Validation Program is the statutory laws used as the basis on which the debts are resolved. Federal laws such as the FDCPA (1977) and the
FCRA (1970) collectively outline consumer credit rights and protections. Consumers enrolled in our Validation Program benefit from Panamerican Consulting’s knowledge and expertise that have been refined and proven over the past seven years.