Carrollton, TX -- (SBWire) -- 05/29/2010 -- A recent nationwide study found that despite the continuing economic struggles, Americans overall are less concerned about their personal finances, compared to last year. The 2010 Scottrade American Retirement Study found that financial concerns have dropped to a four-year low in several areas, including having too much debt, paying off credit card balances, and controlling the urge to spend. This marks a shift from 2009, when financial concerns were significantly higher across the board.

Perhaps the most surprising finding of the study was that retirement concerns are increasing in Generation Y (persons born between 1983 and 1992) and decreasing in Seniors (persons born before 1945). A large portion of Generation Y is newly entering the workforce, graduating college with student loan debt, and watching their parents struggle with their own debt after layoffs. These factors are likely to contribute to a sense of financial instability. Conversely, most Seniors have probably seen the ups and downs of the economy over their lifetime and rely less heavily on market factors for financial stability.

The actions being taken to ease financial concerns have also declined, according to the study. Though most Americans indicate that they try to cut expenses as a means of easing financial burdens, the number of people engaged in saving, retirement planning, and debt repayment has decreased. Over half of the study’s respondents reported that non-mortgage debt was impeding their savings. This seems to indicate that overall, the financial situations Americans are facing have not changed, but rather that they care less about them.

Though the study’s indication that Americans are less concerned with finances can be a healthy sign in many ways, it also seems to suggest a certain level of denial among Americans concerning their financial well-being. Creditors continue to raise rates and cut back on lending in the wake of the financial problems of 2009 and the new regulations of this year. These changes could cause long term financial problems for families across the nation.

Those struggling with credit cards and debt may want to consider using a debt settlement agency as one way of regaining financial stability. Debt settlement programs work by negotiating on a consumer’s behalf to secure settlement on their unsecured debt. With programs typically lasting three years or less, debt settlement allows a consumer to pay off debts owed to each creditor for less than their current balance with one lump sum payment. The settlements are binding and ensure that no further collection efforts or legal action will be taken on the settled accounts.

American Debt Exchange (ADE), an industry leader in settlement processing services, is headquartered in Dallas, Texas, and services clients throughout the nation. ADE’s experienced settlement advisors are certified by the International Association of Professional Debt Arbitrators. ADE is overseen by the Compliance and Quality Board. ADE is an accredited member of The Association of Settlement Companies.

To learn more about American Debt Exchange, or for a consultation, go to http://www.americandebtexchange.com or call 866-857-9886.