Debt Settlement FAQ's
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.