Halo Financial Services, LLC Aligned With Debt Relief Industry Reform From Recent FTC Rule Change
23 Setembro 2010 - 7:02AM
Halo Financial Services, LLC, a nationwide debt settlement company,
announced today that it is aligned with the recent Federal Trade
Commission (FTC) ruling that will incite major reform in the debt
relief industry beginning later this month. "As a debt settlement
company that operates on a performance-based fee model, we are
already in full compliance with the new FTC ruling," said Cade
Thompson, Chief Executive Officer of Halo Companies, Inc. "We have
always been a consumer-oriented proponent of reform in the debt
relief industry, so we are looking forward to seeing a decline in
the unethical business practices that have pervaded the industry
for so long."
Based on the ruling by the FTC, debt settlement companies are
prohibited from charging and accepting fees before the consumer's
debt has been settled. The ruling also requires debt settlement
companies to inform the consumer how long the debt settlement
program will last, what the total cost will be and what potential
negative effects may arise from the settlement.
Since its inception in January 2009, Halo Financial Services has
helped clients successfully negotiate credit card and various
unsecured debts while operating on a performance-based fee model.
"Under the model, Halo Financial Services will be able to operate
in up to 45 states, allowing us to serve more customers and
continue to set the highest standards in the industry," said
Thompson. "While the capital structure requirements of a
no-advanced-fee model will be a challenging transition for many
companies to make, bringing reform to this industry will create a
more secure environment for the consumer."
Halo Financial Services provides a unique, holistic approach
towards solving consumers' financial difficulties. Proprietary
technology created in-house allows Halo to provide a thorough
financial analysis that results in solutions tailored to each
consumer.
Halo Companies, Inc. is no stranger to involvement in the debt
industry reform, serving as invited testimony at interim hearings
held by both the Texas House of Representatives and the Texas
Senate earlier this year. "As a publicly-traded company,
transparency is a prerequisite in all of our operations," said
Jeffrey Rasco, Vice President of Government Relations and
Compliance of Halo Companies, Inc. "We are a strong advocate of
industry reform and continue to be actively involved in helping
craft appropriate legislation at the state and federal level."
The need to establish standards within the debt settlement
industry to protect consumers from engaging a disreputable firm is
paramount. Looking ahead beyond the implementation of the new FTC
rule, Halo Financial Services expects to see the number of
unethical players in the industry decrease, allowing debt
settlement to solidify its place as a viable and credible
alternative to bankruptcy.
Consumers interested in learning more about debt relief options
can visit HelpMeHalo.com for a free consultation from a Certified
Debt Specialist.
About Halo Financial Services, LLC
Halo Financial Services, LLC is an industry leader for debt
settlement services with custom-tailored programs designed to help
consumers settle and pay off their unsecured debt. Halo Financial
Services is a wholly-owned subsidiary of Halo Companies, Inc.
(OTCQB:HALN). Halo Financial Services is ISO 9001:2008
certified and its negotiators are certified by the International
Association of Professional Debt Arbitrators (IAPDA). For more
information about Halo Financial Services, visit
www.HelpMeHalo.com
About Halo Companies, Inc.
Halo Companies, Inc. (OTCQB:HALN) is a publicly-traded
nationwide holding company located in Allen, TX. Halo operates
primarily in the consumer financial services industry including
debt, mortgage, real estate, credit, loan modification, and
insurance. Halo has been recently recognized by Inc. Magazine,
Comerica Bank's Collin 60, Capital One Bank Celebration of
Enterprise, and the SMU Cox School of Business Dallas 100. For more
information about Halo Companies, Inc., visit www.haloco.com.
Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains
forward-looking statements that are subject to risks and
uncertainties, and actual results might differ materially. A
discussion of factors that may affect future results is contained
in Halo Companies' filings with the Securities and Exchange
Commission. Halo Companies, Inc. disclaims any obligation to
update and revise statements contained in this news release based
on new information or otherwise.
CONTACT: Halo Companies, Inc.
Public Relations:
Meredith Recer, Brand Manager
214-644-0065
mrecer@haloco.com
Investor Relations:
Reif Chron, General Counsel
214-644-0065
rchron@haloco.com
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