ADMA Solutions President explains why the court decision to apply the FDCPA to debtors’ attorneys is best for consumers.

North Huntingdon, PA -- (SBWIRE) -- 02/14/2011 -- Executives at ADMA Solutions, a Pennsylvania-based debt resolution company, are applauding the recent court decision which determined that the FDCPA also applies to debtors’ attorneys.

The plaintiff claimed letters sent to her attorney violated the FDCPA because they had attempted to collect unauthorized amounts.

The Fair Debt Collection Practices Act (FDCPA) regulates the collection practices of debt collectors by prohibiting abusive and deceptive collection tactics. The law was determined to apply to communications with the debtors’ attorneys in addition to the debtors themselves. The U.S. Court of Appeals for the Third Circuit reversed a District Court decision which had previously dismissed her claims.

“Consumers are learning that they don’t have to put up with debt collection abuse and harassment—whether they owe the debt or not,” said ADMA Solutions President Amy Michalo-Rojas. “That is another reason why debt collectors would be wise to operate in a well-meaning and transparent fashion.”

Michalo-Rojas explained that an increase in FDCPA lawsuits filed against debt collectors may be a good sign for consumers. In some FDPCA cases, debtors’ who owe legitimate debts can see the debts forgiven if they catch a debt collection agency committing a violation. While she strongly condemns all frivolous lawsuits, Michalo-Rojas encourages debt settlement clients and all debtors to understand exactly what they owe, as well as what state and federal laws debt collectors must follow.

“All consumers are at risk of becoming potential targets for aggressive collection practices,” she said. “Collectors may increase pressure on consumers who fall behind in their debts because they fear they could lose the entire account to bankruptcy.”

To learn more about consumer rights and resources visit ADMA’s website at http://www.admadebt.com/Consumer-Rights-&-Resources.asp. For more information about the FDCPA visit the Federal Trade Commission (FTC) website at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMAdebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-78699.htm

A debt buyer, collection law firm, and process server are accused of conspiracy, while ADMA executives urge consumers to stay aware and informed.

North Huntingdon, PA -- (SBWIRE) -- 01/31/2011 -- Executives at ADMA Solutions, a Pennsylvania-based debt resolution company, are watching a major case against several companies accused of violating both the Fair Debt Collection Practices Act (FDCPA) and the Racketeer Influenced and Corrupt Organization Act (RICO). ADMA President Amy Michalo-Rojas hopes this case can serve as a learning opportunity for clients.

“When debt collectors violate the law – especially as alleged in a massive case like this – we aim to educate both our clients and the general public about what took place and how consumers can avoid becoming the victim of the next unscrupulous collector,” explained Michalo-Rojas.

In this case, a lawsuit was filed against a debt buyer, a law firm, and a processing company alleging all three engaged in “sewer service,” the practice of not serving a summons and complaint and then obtaining a default judgment when the debtors fail to show up in court. The companies were allegedly then able to freeze debtors’ accounts and threaten garnishment to obtain settlements.

The case was filed by eight debtors who claim the fraudulent practices took place over three years and affected more than 100,000 other consumers. The defendants include debt buyer Leucadia National Corp., debt collections law firm Mel Harris, and process server Samserv.

“These defendants are accused of a ‘massive scheme’ to fraudulently obtain default judgments,” explained Michalo-Rojas. “But if the debts were indeed valid, this alleged scheme was especially foolish because they could have pursued collection through legal means.”

Instead, she explained, the entire debt collection industry is watching this case, aware that its outcome could affect debt-buying practices in the future. According to Inside ARM, “The alleged racketeering claims, if proven, would have a chilling impact on how debt buyers validate debt and how collections are pursued through the court system. If proven, many ARM [Accounts Receivable Management] firms would have to re-examine common business practices.”

Michalo-Rojas admits that while every case should be considered a learning opportunity for ADMA Solutions’ clients and consumers in general, it is difficult to provide helpful advice in the face of an alleged conspiracy case of this magnitude.

“We encourage our clients to understand their rights under the FDCPA and learn how to identify and report illegal collection behavior when they see it,” she said. “But as the allegations in this case suggest, even the most aware debtors can be duped when collectors don’t play by the rules.”

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit htp://http://www.ADMAdebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-76236.htm

ADMA Solutions applauds and congratulates Century Negotiations General Counsel Wesley Young on receiving the Inspirational Leadership Award at a DAABA event hosted by AT&T.

North Huntingdon, PA -- (SBWIRE) -- 01/18/2011 -- ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, is proud to highlight an important associate, Wesley Young, General Counsel for Century Negotiations, for receiving the Inspirational Leadership Award.

Young accepted the award from the Dallas Asian-American Bar Association (DAABA) at an event hosted by AT&T, and sponsored by American Airlines, among others. The event, which took place at the Dallas Opera House, featured AT&T Senior Executive Vice President and General Counsel Wayne Watts as the keynote speaker.

“We are exceptionally proud to have Wesley Young as one of our associates,” said ADMA Solutions President Amy Michalo-Rojas. “We are especially happy that so many others recognize Wesley and his many accomplishments as well.”

Young was president of DAABA in 2008 and organized the First Annual Awards Event to raise money for scholarships and other charitable purposes. Since its inception, the event has raised over $75,000.

Young also started DAABA’s annual participation in the DFW Dragon Boat Festival benefiting the Marco Polo Foundation. As a result of his leadership and outreach, DAABA membership has almost doubled since Young’s presidency.

Young now chairs the DAABA Foundation Committee, which recommends scholarships including the first annual Taryn Vu Youth Achievement Award. Young was also the recipient of the 2010 and 2009 TASC President’s Awards, the 2008 Dallas Bar Association’s Outstanding Minority Attorney Award, and in 2006 was chosen as one of D Magazine’s Best Lawyers Under 40.

“I am humbled by this recognition, but honestly the efforts really are their own reward,” said Young who remains extensively active in several areas of his community. Young volunteers for Habitat for Humanity, participates often in the Prestonwood Baptist Church Youth and Children’s Ministry, and speaks regularly to middle school, high school and law school students.

“Our reputation relies primarily on the quality of the people we work with ,” said ADMA Solutions Founder and CEO Dave Leuthold. “We are especially proud to continue our good work alongside outstanding associates like Wesley.”

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMAdebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-74744.htm

ADMA Solutions executives examine reasons behind the five-year high bankruptcy rate in 2010.

North Huntingdon, PA -- (SBWIRE) -- 01/11/2011 -- ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, is alerting consumers to 2010 bankruptcy rates, the highest since 2005.

A total of 1.5 million Americans filed for bankruptcy last year, a nine percent increase from the 1.4 million who filed in 2009, according the American Bankruptcy Institute and a report released last week from the National Bankruptcy Research Center. The NBRC report also found that bankruptcy rates tend to vary widely from state-to-state, but are linked to high unemployment and high credit card delinquency rates.

As an example, the report cites Nevada, which has both the highest number of bankruptcy filings and the highest unemployment rate.

Similarly, high bankruptcy rates in southeastern states (like Tennessee and Georgia) can be linked to the high credit card delinquencies in those states. In addition to joblessness and credit card debt, ADMA Solutions Founder and CEO Dave Leuthold pointed to a 2009 study by The American Journal of Medicine that found over 60 percent of bankruptcies were a result of medical expenses.

“As we can see, people turn to bankruptcy after undergoing serious personal and financial hardships,” said Leuthold. “Not because they are deadbeats who don’t want to repay their debts.”

Although some economists point to signs indicating the economy is improving, most agree that the recovery will be slow. For example, the bankruptcy rate rose by 30 percent between 2008 and 2009, but only rose nine percent between 2009 and 2010, according to NBRC.

So bankruptcies are continuing to increase, but at a much slower pace.

“It’s no secret that this economic recovery will take a painfully long time for many Americans,” said Leuthold. “Unfortunately, alternative methods of debt recovery – like debt settlement – are still not as well known.”

Leuthold explained that debt settlement is an often misunderstood debt relief option that could actually help many struggling Americans find an alternative to bankruptcy. He encouraged consumers to actively seek financial education, which can help indebted consumers craft a realistic plan for getting out of debt, and could help people avoid debt in the future.

“As [ADMA President] Amy [Michalo-Rojas] pointed out in November, people have been forced to rely on credit during long periods of unemployment as well as when they’re hit with medical expenses,” said Leuthold.

Currently there are 15.1 million unemployed Americans, according to the Bureau of Labor Statistics, which does not include those who are underemployed or people who have given up looking for work. Long-term unemployment also remains high, meaning that once people become unemployed, many stay unemployed for longer periods of time.

“Even though many of the problems that lead to bankruptcy are unavoidable, consumers can make the best choices about how to move forward when they are armed with enough of the right financial information,” said Leuthold.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-73540.htm

ADMA Solutions’ educational materials include fitness tips and free workout resources for clients and affiliates.

North Huntingdon, PA -- (SBWIRE) -- 01/04/2011 -- ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, is providing educational tips on staying fit while staying within a budget – just in time to help with New Year’s resolutions.

As ADMA Solutions President Amy Michalo-Rojas observed, most New Year’s resolutions fall into the categories of improved fitness or improved financial stability, whether it be getting out of debt or saving for retirement. But because these goals can occasionally work against each other, Writer Nicole Bosley has published advice on how to get in shape without getting into debt.

“We know that many debt settlement clients – let alone many Americans – cannot afford expensive monthly gym memberships,” explained Bosley. “We hope that by offering tips and resources we can help people work toward both their financial objectives and fitness goals at the same time.”

In her article, “Staying Physically Fit Without Sacrificing Your Budgeting Goals,” Bosley offers numerous useable tips for those looking to stay active without spending money. She suggests free resources such as FitTV for cable subscribers or checking out exercise DVDs and videos at the local library. People with access to the internet can explore hundreds of workout videos at Exercisetv.tv or get a customized workout plan at Freetrainers.com. She also suggests making exercise more enjoyable by going on a hike or bike ride with a friend or turning everyday tasks into an exercise routine, such as vacuuming, walking the dog, or even doing push-ups, sit-ups or lunges while watching television.

“Our educational materials, including our monthly newsletters, are intended to provide practical advice that people can actually use,” said Bosley. “I hope that this article will help people realize that fitness, like financial wellness, can start with a positive mindset and a few quality resources.”

Bosley writes the monthly newsletter The Road to Financial Freedom, a publication of the Premier Institute for Financial Freedom (PIFF) which is distributed through PIFF affiliates.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-72340.htm

ADMA Solutions executives point to recurring New Years’ resolutions and offer explanations and suggestions for struggling consumers who want to reach their financial goals in 2011.

North Huntingdon, PA -- (SBWIRE) -- 12/27/2010 -- Executives at ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, are pointing to data showing that getting out of debt is a top New Year’s Resolution again this year.

USA.gov is listing the top 10 New Year’s resolutions that Americans tend to remake year after year on their website. According to ADMA Solutions President Amy Michalo-Rojas, recurring resolutions (which also include getting fit, losing weight, and saving money) are the most common resolutions for several reasons.

“People fall back on similar resolutions every year in part because these are goals that can be difficult to keep,” she explained.

Michalo- Rojas also observed that most resolutions fall into one of two categories: improved health or improved financial stability – two of the most important ingredients to a successful year. She explained that financial stability is especially difficult to maintain when combined with health problems, a situation that can occur when families are hit with unexpected medical costs and have to rely on credit cards to make ends meet. But even healthy families can struggle with debt, especially now as unemployment and foreclosure rates remain high.

Financial education is the first step consumers can take to meet their goals in the New Year, according to ADMA Solutions Founder and CEO Dave Leuthold. He advises people with overwhelming credit card debt to learn about all of the options available to them, and then devise a realistic plan.

“It often takes longer than one year to get out of debt, but it can take only a short time speaking with a knowledgeable profession to set a successful financial plan in motion,” explained Leuthold.

Leuthold and Michalo-Rojas are urging families with unsecured debt to learn about the variety of debt resolution option available to them, including debt settlement. Individuals who need help with unsecured credit card are encouraged to call ADMA Solutions at 1-888-499-ADMA (2362) and speak with a debt professional today.

“When Americans are informed, they are in the best position to achieve their New Years’ resolutions once and for all,” said Michalo-Rojas.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-71469.htm

This holiday season the executives at ADMA Solutions, LLC, are donating to various charities instead of exchanging executive gifts; plus, employees make generous donations through the company’s Jeans Fund.

North Huntingdon, PA -- (SBWIRE) -- 12/23/2010 -- Executives and employees at ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, are donating to a variety of charities this holiday season.

Most notably, ADMA Solution’s executives are donating funds to the charity drive of one of their affiliates, instead of exchanging gifts as they did in past years.

“Every member of our hard-working executive team deserves rewards on top of recognition, but there are too many Americans who don’t have the simple luxury of a steady paycheck, coverage for medical costs, or food on the table,” explained ADMA Solutions Founder and CEO Dave Leuthold. “So together we decided to donate the money, which in past years we spent on each other.”

In addition to the charity drive, ADMA Solutions is making other donations this holiday season. In coordination with the Premier Institute for Financial Freedom and Century Negotiations, ADMA employees have collected money through their Jeans Fund. Every Friday, employees at all three companies can donate to the fund and wear jeans to work. Employees donated over $6,000 in 2010 alone, and over $23,000 since 2002.

Just in time for Christmas, ADMA Solutions donated to three local organizations: the Tribune-Review’s Operation Santa Claus, an annual effort providing meals for 6,500 Western Pennsylvania families and books for children; the Westmoreland Marine Corp Toys for Tots, one of ten Pennsylvania detachments to operate an independent Toys for Tots program; and the Irwin/North Huntingdon Meals on Wheels, which provides daily prepared meals to home-bound senior citizens five days a week. Each organization received $500 from the employee jeans fund.

“As a debt settlement company, we are especially aware of how many different hardships American families are undergoing, sometimes simultaneously,” explained ADMA Solutions President Amy Michalo-Rojas. “We cannot in good conscience miss an opportunity to contribute in any way we can.”

Other recent charitable contributions include donations to the KDKA Turkey Fund, and the Westmoreland County Food Bank.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-70389.htm

Employees at ADMA Solutions and their partners are donating presents to charity this holiday season through their holiday Caring Trees.

North Huntingdon, PA -- (SBWIRE) -- 12/15/2010 -- Employees at ADMA Solutions, a debt resolution company, along with their partners at Century Negotiations and Premier Institute for Financial Freedom (PIFF), are donating gifts to charity this holiday season through two Caring Trees.

The Caring Trees, located in two office locations, are adorned with angel and star ornaments which list the gender, age, and first name of someone in need. Employees are encouraged to take an ornament and purchase a $10 present.

PIFF’s Patty Churchill of Human Resources and Leyna Spaniel of Quality Control came up with the idea of a charity tree so employees could give back to the community, instead of to each other, and they have been blown away by the response. The pair initially put 60 ornaments on the tree, but they went so quickly that they decided to make more.

“People were coming by and taking the ornaments even as we were putting them up,” explained Spaniel. Spaniel and Churchill made the ornaments themselves. They collaborated with two area homeless shelters and took suggestions from employees about local families who would greatly benefit from receiving a present; so each present is intended for a specific child or adult in the community.

“It’s especially rewarding knowing a little bit about the person receiving my gift,” explained Churchill. “There’s an angel on my desk that lists a 47-year-old man who loves basketball. Even though he’ll spend this Christmas in a homeless shelter, I know he’ll be getting at least one gift he really might enjoy.”

The trees were decorated on November 30th and all of the ornaments have been claimed. Presents will be collected on December 17th and distributed to the homeless shelters and to households throughout the community.

“I am so proud of our employees and their obvious enthusiasm for this idea,” said ADMA Solutions Founder and CEO Dave Leuthold. “Our companies are used to working together to help people across the country get out of debt, but it’s just as wonderful to witness employees going out of their ways to help people in their community this time of year.”

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-69252.htm

The recent improvement in charge-off rates and delinquencies could easily be offset by holiday spending, according to ADMA Solutions.

North Huntingdon, PA -- (SBWIRE) -- 12/09/2010 -- Amy Michalo-Rojas, president of ADMA Solutions, LLC, a Pennsylvania-based debt resolution company, is warning that holiday spending could negate improvements in credit card charge-offs and delinquency rates.

Credit card charge-off rates dropped last quarter, after reaching their highest level in at least 25 years. But if consumers rely on credit cards for their holiday spending, the increased debts could translate into higher charge-off rates and delinquencies in the near future.

The rates at which credit card companies write off uncollectable debts had reached 10.37 percent over the summer but dropped to 8.39 percent, which Michalo-Rojas said is an important but fragile improvement. Credit card delinquency rates also fell slightly from 5.05 percent to 4.63 percent, according to the Federal Reserve.

“Charge-off rates just reached their highest levels in decades,” she said. “While last quarter’s drop is an undeniable improvement, the holidays are an especially delicate time for both consumers and the economy.”

Michalo-Rojas is urging all consumers, especially those already in debt, to avoid credit card purchases and pay for all expenses in cash.

“Many people want to forget about financial realities during the holidays, but they get into trouble when the New Year bills start rolling in,” she said. “This is a tall order for many households, but avoiding additional debt is the best way to improve personal spending, and to help the economy in the long run.”

Over the past two years, the recession has made it difficult for consumers to stay financially afloat in the face of massive unemployment, underemployment, and the resulting dependence on credit to make ends meet. As a result, US banks have been forced to charge off large amounts of uncollectable debt that consumers could not afford to repay. Michalo-Rojas agrees with many economics experts who believe the economy is slowly improving, but she believes consumers must be especially careful. While the fall quarter’s numbers are a positive sign, she warns that the improvement may be temporary.

“Consumers need to be careful not to overspend this time of year, especially on credit cards,” she said.

Even though the economy and the retail market specifically depend on consumer spending to boost their numbers, consumers should rein in spending over the holidays and when planning to travel or entertain.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-68289.htm

The recent increase in FDCPA lawsuits indicates consumers are fighting back against debt collectors that violate fair debt collection laws.

North Huntingdon, PA -- (SBWIRE) -- 12/02/2010 -- Executives at ADMA Solutions, LLC, a debt settlement company, are praising the increased actions against unscrupulous debt collectors that violate fair debt collection laws.

October marked a continued increase in lawsuits against debt collectors: 503 lawsuits were filed in the second half of the month, bringing the total number of lawsuits this year to 9,564, according to WebRecon, LLC, a research firm.

“Debt collectors must follow fair debt collection laws, even as the economy is making it difficult to collect from financially-strapped consumers,” explained ADMA Solution’s CEO Dave Leuthold.

With the unemployment rate at nearly 10% and a large number of families struggling with credit card payments, many simply cannot afford to keep up with their minimum monthly payments. Under pressure to collect, some debt collectors are breaking the law by harassing and deceiving consumers to frighten them into making payments.

“Fortunately, more and more consumers know that they are protected by the FDCPA,” continued Leuthold. “Even when falling behind in payments, consumers are protected under the law.”

The FDCPA, or Fair Debt Collection Practices Act, is a law designed to protect consumers from harassing and deceptive debt collection practices. According to WebRecon, the majority of the lawsuits filed so far this year are in response to FDCPA violations (8,953). Other violated laws include the Fair Credit Reporting Act (1,069), the Truth in Lending Act (457), and the Telephone Consumer Protection Act (148).

On top of the increasing lawsuits aimed at the debt collection industry, the total number of complaints filed against the debt collection industry has also risen in recent years. According to their annual report, the Federal Trade Commission (FTC) received 88,190 complaints about third-party debt collectors in 2009 (up from 78,925 in 2008, 70,951 in 2007, and 69,249 in 2006). The FTC received more complaints about the debt collection industry than any other single industry, and it estimates that the number would be higher if all consumers recognized violations and knew how to report them.

“Consumers need to know that debt collectors are not allowed to engage in certain types of harmful behaviors, like making unlawful threats, calling after 9pm, or discussing the debt with a third-party, like a family member or neighbor,” explained ADMA Solution’s President Amy Michalo-Rojas. “When consumers understand what debt collectors are not allowed to do, they can better protect themselves from the hassle and anxiety that comes from dealing with unscrupulous debt collectors.”

Michalo-Rojas and Leuthold recommend all consumers read the FTC’s Guide for Consumers to learn what types of behaviors are prohibited. Learn more at here: http://www.ftc.gov/bcp/edu/pubs/consumer/credit /cre18.shtm

“When consumers know their rights, they can report violators,” said Leuthold.

Not only are ADMA’s clients protected by the FDCPA, but also they have access to the United Consumer Advocacy Network, LP (UCAN), an organization that helps debt settlement clients who become victims of debt collection abuse. Leuthold encourages ADMA clients to contact UCAN if they believe their rights have been violated.

For more information about consumer protections visit http://www.ucan.net or http://www.admadebt.com/Consumer-Rights-&-Resources.aspw, or speak to an ADMA Solutions professional by calling 1-888-913-8784.

About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt settlement company providing credit card debt relief and settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit http://www.ADMADebt.com.

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-67231.htm

Bankruptcy rates increased 14% from last year, the third consecutive increase, but ADMA executives say struggling consumers have another option.

North Huntingdon, PA -- (SBWIRE) -- 11/24/2010 -- Executives at ADMA Solutions, LLC, a debt settlement company, are alerting consumers to the continued increase in personal bankruptcy filings and are raising awareness about debt settlement as an alternative to bankruptcy.

Despite modest economic improvements from what many have called the Great Recession, individual bankruptcy filings increased for the third straight year, with 1.5 million Americans filing for bankruptcy in fiscal year 2010. In reaction to these findings, ADMA’s President Amy Michalo-Rojas is encouraging individuals to consider debt settlement, a step she says could help quell these figures.

“Obviously many people are unable to stay afloat, having been forced to rely on credit cards through long periods of unemployment and other financial hardships,” Michalo-Rojas said. “It is my hope that by educating consumers about debt settlement, we may be able to offer other debt resolution alternatives to indebted consumers.”

Debt settlement is a debt resolution program for people with overwhelming credit card debt who do not qualify for or do not want to file bankruptcy. Debt settlement companies, like ADMA Solutions, negotiate with their clients’ creditors until they reach a mutually-agreeable settlement that lets creditors collect a portion of the debt, instead of receiving nothing if the consumer were to file bankruptcy.

“Despite the increase in bankruptcy filings, it is still difficult for consumers to qualify for Chapter 7 bankruptcy, where most debts are discharged,” explains ADMA’s CEO Dave Leuthold. “Instead these consumers are often forced into Chapter 13 bankruptcy, which is similar to a repayment plan.”

The 2005 bankruptcy law severely restricted Chapter 7 eligibility, and yet bankruptcy filing rates have continued to increase ever since. There were 200,000 more bankruptcies in fiscal year 2010 compared to the previous year—a 14% increase. In addition, the unemployment rate is nearly 10% and mortgage foreclosure rates also remain high.

“Obviously too many families are continuing to struggle with their finances,” said Michalo-Rojas. “We hope that with increased education, we can provide a debt resolution option for indebted American consumers.”

Michalo-Rojas and Leuthold are encouraging struggling consumers to call ADMA to find out if they qualify for debt settlement.

For more information about ADMA Solutions, visit ADMAdebt.com/what-we-do or call 1-888-499-ADMA (2632).

For more information on this press release visit: http://www.sbwire.com/press-releases/sbwire-66226.htm