Debt Consolidation FAQ:
What is Debt Consolidation?
Debt consolidation involves restructuring your existing interest rates with your creditors. We consolidate all your accounts into one convienant monthly payment. (If you are late we can stop the late and overlimit fees)
What are the benefits of Debt Consolidation?
The consolidation process results in lower monthly payments, reduced interest rates, and elimination of over-limit fees and late fees. Moreover, the payoff term is drastically reduced. Interest Rates are lowered in between 6 and 9%!!
How can Credit Counseling secure lower payments for me?
Credit Counseling agencies have established relationships with major creditors across the country, both large and small. Creditors are typically willing to work to facilitate the repayment of money owed by lowering monthly payments and reducing or eliminating an individual\'s interest rates and late fees.
Should I consider filing for bankruptcy instead?
Bankruptcy is usually the last resort you should want to take in solving your financial problems. Many individuals aren\'t even aware of the consequences this can cause. Bankruptcy will stay on your credit report for at least 7 years. Future creditors more than likely won\'t even consider extending credit to someone who has filed bankruptcy. Debt Consolidation is your best and safest alternative if you\'re considering bankruptcy.
What type of debt can be consolidated with Debt Consolidation?
All unsecured debts can be successfully consolidated with our Debt Consolidation program. Credit Cards,Department store cards, medical bills, utility bills, unsecured loans, student loans, and the IRS.
Debt Settlement FAQ:
How will debt settlement affect my credit?
Debt settlement is a bankruptcy prevention program and will adversely affect your credit in the short term if your debts are current and you have no history of late payments. Since you will have resolved your outstanding debt through our program your future creditors will see that you settled your debts instead of filing bankruptcy.
Do I have to be late on my credit card payments to be eligible for your program?
Our debt settlement program works with debtors in all stages of collection.
How do I know if I qualify for your program?
There are numerous ways to deal with debt problems. To find out if debt settlement is right for you, talk to one of our experienced friendly counselors. At the minimum, in order to qualify for debt settlement, you need to have a certain amount of unsecured debt, be employed and be serious about getting rid of your debt. At the end of the free consultation, we will let you know if you qualify for the program, and if not, what other options are available.
Will the debt settlement program work for all of my creditors?
We can't guarantee that every creditor will accept a reduced amount to satisfy your outstanding debt. However, using our knowledge of consumer credit laws and industry know-how, we make a convincing case to creditors about why they should accept our offer. It typically costs the creditor more time and money to go through legal or other collection methods, with no guarantee that they will collect the full amount, so most are happy to receive a portion of the amount owed.
What can I expect as a result of your debt settlement program?
You can expect to significantly reduce the amount you owe to your creditors. Each creditor is different, and the actual amount that they agree to will be affected by your account history and other factors. However, most creditors will end up settling for between 25 and 60% of the balances owed. After your free consultation we will know your financial situation and will be able to advise you on what expect from the program in more detail.
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