WASHINGTON, March 4, 2013 (GLOBE NEWSWIRE) -- FELA (Financial Education & Literacy Advisers), a leading provider of consumer and financial education programs, today launched a 'Debt Collection 101' series of modules for its web-based financial education application, LifeCents.
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The modules, coupled with FELA's proven approach to financial education, will educate consumers on their responsibilities and rights related to past due debt, teach them how to better manage their debt, and advise them on opportunities to pay back their debt. The new educational modules will help to empower consumers to improve their overall financial health and financial capability.FELA developed the 'Debt Collection 101' series in partnership with Portfolio Recovery Associates, LLC (PRA), a leader in the debt buying industry working with its customers to pay back their debt. "For too long, PRA has seen consumers exposed to bad advice on the web, paying unnecessary fees to settle debt, for example," said Neal Stern, executive vice president and chief operating officer, PRA. "Why not simply talk with those you owe money to? Settle your debt at a discount, instead of paying fees to a debt settlement company to negotiate for you. PRA wants to see more consumers understand how to manage delinquent debt, while encouraging more of our customers to talk with us, and work out solutions to resolving their debt."