The company director Sandy Mathew has made an announcement on this on their October board meeting held in San Francisco. To speak about the newly launched division, Sandy said "We were watching the debt consolidation market trend over the years and found that there's a huge market for Debt Evaluation".
The company CFO has also announced that, the new budget has been allocated for a team of 30 new professional consultants and an office at the heart of San Francisco.
The company has also released their internal study on Individual spending habit and the growing trend for availing debt consolidation service. On their research release they have shown that the debt consolidation service providers are mushrooming in the open economy and their demand is on all time high. Due to the help of new age spending capacity and various payment means today’s earning class, be it working class or business class has started spending like never before.
People are stretching their budgets beyond the limits of their actual purchasing capacity. The ‘shop till you drop’ society is making it a habit for people to spend much more than their actual capacity. Buy now and Pay later is the mantra of the today’s economy and the after effect is poor financial health and weak book value of the individuals. So once the credit is beyond the neck level, the individual is having no option but to go for a debt consolidation service, so that they can pay all their debts at once. Even the trend shows that the Bank themselves provide the service to its customers who has a near credit limit amount to pay, just to ensure that the credit card is paid on time and the new loan account is created with the customer.
On talking about the research note, Sandy said “As a company we’re constantly review the debt consolidation market and the industry indicators and we’ll release our further studies on quarterly basis”.
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