Debt Shield Offers Discount to Katrina Survivors
Debt Shield, Inc. , a Maryland-based debt settlement firm, is reducing its activation fee by 50 percent for new clients from areas of Louisiana, Mississippi and Alabama that were affected by Hurricane Katrina.
The firm, which helps consumers repay debts through reduced-balance settlements, is offering the discount as part of its efforts to help victims as they try to recover financially and restart their lives in the wake of Katrina.
"Our employees have been raising money and promoting blood drives all week," said Phil Fewster, CEO of Debt Shield. "This 50 percent discount is just another way we want to offer help to families trying to get back on their feet after such a horrific and life-changing event."
The discount can save new clients hundreds of dollars, depending on the size of debts placed under Debt Shield's management. The firm typically settles debts for less than 40 percent of the balance owed. The service provides a chance for consumers experiencing hardships to repay debts based on their limited financial ability.
Fewster is calling on creditors and collectors to halt lawsuits and other aggressive collection tactics as Katrina survivors, many of whom are Debt Shield clients, work to recover financially. He urged patience as survivors work towards settling their debts while trying to avoid bankruptcy. He also said his company is "adopting a zero-tolerance policy for creditors and collectors who choose to use scare tactics and kick people when they are down."
"As a start-up company, we are doing all that we can and encourage other companies across the nation to pitch in and do what they can to help those affected by this tragedy," Fewster continued. "This includes creditors and collectors who need to take the financial impact of Katrina into consideration and work with companies, like Debt Shield, that are helping overburdened consumers reach mutually agreeable settlements with creditors."
Fewster said his company will offer the discounted activation fee through the rest of 2005 and will also work with existing clients in dire need due to Katrina. Interested individuals can call 1-888-397-7546 or go to www.debtshield.com to apply for Debt Shield's service and the activation fee reduction. Applicants will need to meet the relief criteria to receive the discount.
