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Frequently Asked Questions

Could I negotiate on my own?

In order to obtain the long-term interest rate concessions, minimum payment reductions and other concessions, you need to use an expert company which speacializes in debt negotiation.

How does your program work?

In your initial, free consultation, your Debt Consultant will see if the debt management or the debt settlement program will best solve your needs.

Our experts contact each creditor on your behalf and make arrangements for them to accept reduced monthly payments. Your creditors are asked to stop all collection activity and to deal directly. In some cases, creditors will stop or reduce finance charges.

Payment to your creditors is handled through our specialists. Each month, you pay a specified amount, which is deposited into a trust account and distributed monthly to each of your creditors until all of your debts have been paid.

What are the fees to join?

There is a small administration fee/contribution and a small monthly contribution to cover account maintenance, processing, and the monthly mailing of statements. As always, the consultation and custom plan is free of charge as a community service to you.

How will my credit report be affected?

Our companies do not report any of your information to the credit bureaus. This is a responsibility of your creditors, and most companies have favorable credit reporting policies. If you are currently behind on your payments, you have probably already been reported as late. Once on a debt management program, many companies will re-age your account within 90 days, meaning they will report your account as current on your credit report. Many companies will also report your participation in a debt management program. Showing that you are working through a credit counseling service may show future creditors that you needed help but wanted to pay off your debts in full.

Will I still receive harassing phone calls?

The debt sxpecialists serve as the contact for creditors and provides you with instructions on what to say in the interim time that your account is being established with creditors.

How does this compare to consumer credit counseling services?

Most consumer counseling services only provide debt management plans. By providing both debt negotiation and debt management plans, our expert companies can evaluate your situation and select the option that is best for you. In addition, studies show that in excess of 60% of people who start a debt management plan drop off before completing the plan. In many cases, our specialists can migrate a client who is unable to make the new payment on the debt management plan to a debt settlement plan where he/she can eliminate the debt for a lower monthly payment. With these added benefits, you are assured to reach your goal of debt freedom without bankruptcy.

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