Debt Settlement Facts

The Facts on Our Debt Settlement Program!

How will debt settlement affect my credit?

Your credit report is going to show a history of late payments until a settlement is paid. For instance, your smallest creditor should be settled in about six months. That’s about how long you’ll show a history of late payments. As we negotiate and settle each of your debts, your credit report is going to show that they have been settled and have a balance of zero. Whenever you apply for credit after completing our program, creditors are going to look at your credit report to see if you took care of your debts. When you complete our program, you will be able to answer "Yes, I took care of my debts." Remember we want to pay your creditors just as badly as you do. Anything you do to get out of debt; short of paying to full amount upfront, will have a negative affect on your credit.

Will collectors continue to call me?

We have a letter that will be sent to each of your creditors instructing them to stop calling you as part of their debt collection efforts. Instead the creditors are informed that you have enrolled into our program and that you intend to make a settlement offer you have accumulated a reasonable amount of money to offer. NO COMPANY CAN STOP ALL CALLS. But we can reduce the number of call and make it easier to answer the phone.

How long before a debt is settled?

That’s really up to you. We’ve got you set up to pay off all your debts within months but chances are that after you get back on your feet and you’ll be able to add a little extra here and there. The more money that you make available the faster we can ask or offer settlements.

Can I negotiate my debts with the creditors myself?

Absolutely, but lets be honest with each other unless you are a dentist you probably go to a dentist to get your teeth taken care of right? So why would you try to negotiate a debt when you don’t know the rules or have the connections and experience? Remember you’re going up against seasoned professional collectors that do this for a living and they normally don’t take individuals seriously..

Why does the money have to be in the bank before you can start negotiating my debts?

We are able to offer and ask for settlement amounts based on what you have saved up. If you aren’t able to pay the amount they are willing to settle for immediately then they will not be inclined to do the deal. Remember, they just want to get paid and get paid today. You don’t go to the grocery store and offer to pay for the food next week do you? Besides as far as they are concerned, lending you a line of credit got you into this situation despite any personal issues you may be going through. Being able to pay immediately is the key to the success of our program.

Our program allows you to achieve savings of up to 50% or more of your credit card balances!

Get a FREE Consultation with a Debt Settlement Specialist!

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Get The Facts on Debt Settlement!

Repossessions, wage garnishment, property seizures and foreclosures are words which strike fear into the heart of every consumer.

The general assumption is that overdue debts will result in these drastic measures. Sure, if you've put up property as collateral on a loan which you are unable to pay, it will typically be seized or repossesed. But the same does not necessarily hold true for unsecured debts. In reality very few creditors will ever push for garnishment on small unsecured debts. Garnishment and seizure are a creditor's most effective weapons to collect an outstanding debt, but they are also very expensive and time-consuming to the creditor. While it is within the creditor's legal rights to pursue collections through any of these means, the cost of recovering a debt often exceeds the amount of the debt itself, and so it's not always cost efficient to force a collection.

Sadly enough, in the United States alone thousands of bankruptcies are filed every week in response to collection efforts on unsecured debts under $5000. Consumers are so intimidated by creditors that they fold under the perceived pressure, resorting to bankruptcy as a means of escaping an unsecured debt. If these same consumers had simply ignored the threatening letters and intimidating phone calls, they would have discovered that most creditors are all bark and no bite. Bankruptcy is arguably the worst type of negative listing you can have, and it is almost certain to wreak havoc on your credit report for the next ten years. You should therefore consider bankruptcy only as a last resort, and possibly never as an option to escape a relatively small, unsecured debt.