How Signature Servicing Debt Settlement Works
Signature Servicing is one of the country’s most ethical debt settlement companies and always looks out for your interests as a consumer. We operate in most states and have decades of experience in the debt relief and financial service industry. We fully realize the severity of your unique financial situation, and have dedicated ourselves to be YOUR advocate in these challenging times. We are leaders in the debt settlement field and have worked with hundreds of creditors.
The Customer Service reps and Negotiators work in tandem to better serve our customers. No fees will be collected by our organization until your debts are settled and agreements with creditors are reached. There are no fees to cancel and your money can always be refunded.
Our Business Hours are Monday through Friday, 8:30 AM to 6:00 PM
We do not discriminate on the basis of race, color, religion, sex, marital status, national origin, or ancestry.
This is not a credit repair service and our company does not offer credit repair.
Signature Servicing is a Debt Settlement Company. We do not provide loans. You should not enroll in this program if you believe this is a loan or a guarantee of a future loan.
Essential Resources for Debt Relief
What Is Debt Settlement?
Is Debt Settlement Right for You?
Credit Card Debt Statistics
Americans have
created billions of dollars worth of debt over the past 45 years, and credit card debt has been an important part of that. Credit card debt dove — along with consumer spending — during the 2008 financial crisis and slow growth has kept total revolving debt at pre-crisis levels, though it is creeping up. According to figures from the Federal Reserve, total U.S. outstanding consumer debt was $3.62 trillion as of May 2016. That figure includes car loans, student loans and revolving debt, but not mortgages. Total U.S. outstanding revolving debt, which is chiefly made up of credit card balances, was $953.3 billion as of May 2016.1
Average credit card debt is not a single number. Instead, you will get many different answers, depending on how you measure it. The average debt is:
- $1,128 per card that doesn’t carry a balance (the amount is charged, but paid off monthly)
- $1,674 per account, U.S. adults with a credit report and Social Security number
- $3,766 per person, U.S. resident adults
- $5,232 per person, excluding unused cards and store cards
- $5,540 per U.S. adult with a credit card
- $7,494 per card that usually carries a balance
- $9,600 per household with credit card debt
The amount of average credit card debt has been steadily increasing over the long term. As of 2013, a person born between 1980 and 1984 had on average $5,689 more in credit card debt than his or her parents (those born between 1950 and 1954) at the same stage of life and $8,156 more in credit card debt than his or her grandparents (those born between 1920 and 1924).
The Great Recession reversed the growth of credit card debt — at least for a few years. According to TransUnion, between the first quarters of 2008 and 2014, average credit card debt per borrower fell from a high of $6,276 in mid-2008 to $5,164 in Q1 of 2014 — the lowest point in the six-year period. Balances have been creeping up since then at a national level, though some states have seen decreases.
Source: CreditCards.com
Signature Servicing is a proud member of the following leading industry associations:
AADR
American Association for Debt Resolution
BSI
