Frequently Asked Questions (FAQs)
What is Debt Settlement?
Debt Settlement means that your principal balance of debt is negotiated down to a lesser amount. Debt Settlement can be an attractive option if you have more debt than you can pay off in a short time frame or if you’re unable to make the minimum monthly payments due to financial hardship. With a debt settlement program, our experienced Team of Professional Debt Settlement Consultants will negotiate on your behalf in order to lower your principal balance. In most cases, you can also lower your monthly payments due to the lower principle balance.
Can I really Pay Less then what I owe?
It’s not surprising that the idea of paying less than what you owe to creditors can sound too good to be true. Chances are you’ve seen advertisements for Debt Settlement and wondered if there was any legitimacy to the claims.
Debt Settlement is absolutely a viable option for people who have hit financial hardship. If you are unable to make monthly payments to your creditors due to true financial hardship, more often than not they are willing to negotiate a lower principle balance to retrieve some of what you owe as opposed to nothing. This is why paying less than what you owe is a reality for many Americans who are struggling to pay off their debt.
How does it work?
At first glance, settling your debt sounds like an extremely complicated process and can be a little intimidating to tackle on your own. After enrolling in our Debt Settlement program, our Debt Settlement Partners will take on the burden of dealing with harassing creditors and serve on your behalf to negotiate the lowest possible payoff amount to the creditor. Our Debt Settlement Partners will help you pick out a customized program that fits your needs and will set you on a path to lower monthly payments and becoming debt-free at your own pace.
Will creditors continue to contact me? How can I get them to stop?
During the debt settlement process, there is a chance that creditors will attempt to contact you about payment. There are several options to help alleviate the calls from creditors including call forwarding options and education on FDCPA rules. It is extremely important to know your rights as they will protect you from harassment and our Debt Settlement Partners will also empower you to take control. With this in mind, most creditors will respect the fact that you are being represented by a third party (our Debt Settlement Partners) and will start communicating with them upon realizing that you have enrolled into a program.
Can I Settle Debt on my own?
Settling your own debt is possible, but could be problematic without representation of a company or law firm with experience dealing with creditors who could put obstacles in your way. Here are some of the benefits using our Debt Settlement Partners to help you settle your debt:
How do I know if I qualify for Debt Settlement?
There are many factors that are taken into consideration when determining if you are qualified for Debt Settlement. All of our well-trained Debt Settlement Partners and their Analysts can go over your options in detail. Generally speaking, the qualifications are as follows:
What type of debt qualifies for debt settlement?
Click Here See Debt Settlement Services
How long does the process take?
We customize our payment plans to fit the varying needs of every client. Once you’ve been successfully enrolled, the programs our Debt Settlement Partners offer can vary depending on the type of program you choose.
How will this affect my credit?
There are many benefits of Debt Settlement, but the reality is that settling your debt will negatively affect your credit. However, in many cases this is still a better option than Credit Card Counseling or Bankruptcy.
Bankruptcy may affect your credit score for 7-10 years, and Credit Card Counseling programs can last up to 5-7 years with you paying back 100% of your principle balance.
With Debt Settlement, you can potentially resolve your debt in less than 3 years and pay a less than your principle balance.
How is this different from bankruptcy?
How do I know this is not a scam?
Although there are fraudulent companies posing as Debt Settlement companies, there are plenty of legitimate ones that can help you get out of debt. Our Debt Settlement Partners operate an actual legit established Licensed and credentialed Law Firm with an A+ rating from the Better Business Bureau and is regulated by the State Bar.
Our client’s results are our number one priority. And our clients become the clients of our Debt Settlement Partners as well, and as such also become their number one priority.
Don't see a questions and/or concern answered here? Or you need further clarification?
No problem. Simply fill out the FREE Consultation/Contact Us Form by Clicking Here and one of our experienced Professional Debt Settlement Consultant Partners will be in touch with you to schedule a convenient time for you, so that all of your questions and/or concerns can be addressed.
Debt Settlement means that your principal balance of debt is negotiated down to a lesser amount. Debt Settlement can be an attractive option if you have more debt than you can pay off in a short time frame or if you’re unable to make the minimum monthly payments due to financial hardship. With a debt settlement program, our experienced Team of Professional Debt Settlement Consultants will negotiate on your behalf in order to lower your principal balance. In most cases, you can also lower your monthly payments due to the lower principle balance.
Can I really Pay Less then what I owe?
It’s not surprising that the idea of paying less than what you owe to creditors can sound too good to be true. Chances are you’ve seen advertisements for Debt Settlement and wondered if there was any legitimacy to the claims.
Debt Settlement is absolutely a viable option for people who have hit financial hardship. If you are unable to make monthly payments to your creditors due to true financial hardship, more often than not they are willing to negotiate a lower principle balance to retrieve some of what you owe as opposed to nothing. This is why paying less than what you owe is a reality for many Americans who are struggling to pay off their debt.
How does it work?
At first glance, settling your debt sounds like an extremely complicated process and can be a little intimidating to tackle on your own. After enrolling in our Debt Settlement program, our Debt Settlement Partners will take on the burden of dealing with harassing creditors and serve on your behalf to negotiate the lowest possible payoff amount to the creditor. Our Debt Settlement Partners will help you pick out a customized program that fits your needs and will set you on a path to lower monthly payments and becoming debt-free at your own pace.
Will creditors continue to contact me? How can I get them to stop?
During the debt settlement process, there is a chance that creditors will attempt to contact you about payment. There are several options to help alleviate the calls from creditors including call forwarding options and education on FDCPA rules. It is extremely important to know your rights as they will protect you from harassment and our Debt Settlement Partners will also empower you to take control. With this in mind, most creditors will respect the fact that you are being represented by a third party (our Debt Settlement Partners) and will start communicating with them upon realizing that you have enrolled into a program.
Can I Settle Debt on my own?
Settling your own debt is possible, but could be problematic without representation of a company or law firm with experience dealing with creditors who could put obstacles in your way. Here are some of the benefits using our Debt Settlement Partners to help you settle your debt:
- Experience dealing with these issues. With a law firm you receive full legal representation of the law firm throughout the entire process
- Avoid paying a high lump sum that creditors will often require when you settle on your own
- Full protection from our Debt Settlement Partners in the event creditors decide to sue you
- More time to save money in a Special Purpose Account (SPA) during the settlement process
How do I know if I qualify for Debt Settlement?
There are many factors that are taken into consideration when determining if you are qualified for Debt Settlement. All of our well-trained Debt Settlement Partners and their Analysts can go over your options in detail. Generally speaking, the qualifications are as follows:
- You have more than US$10,000 in debt, but may qualify with as little as US$7,500.
- You currently can’t afford to pay more than the minimum monthly payment
- You anticipate not being able to afford minimum monthly payments due to unexpected financial hardships including but not limited to divorce, unemployment, and medical debt
What type of debt qualifies for debt settlement?
Click Here See Debt Settlement Services
How long does the process take?
We customize our payment plans to fit the varying needs of every client. Once you’ve been successfully enrolled, the programs our Debt Settlement Partners offer can vary depending on the type of program you choose.
How will this affect my credit?
There are many benefits of Debt Settlement, but the reality is that settling your debt will negatively affect your credit. However, in many cases this is still a better option than Credit Card Counseling or Bankruptcy.
Bankruptcy may affect your credit score for 7-10 years, and Credit Card Counseling programs can last up to 5-7 years with you paying back 100% of your principle balance.
With Debt Settlement, you can potentially resolve your debt in less than 3 years and pay a less than your principle balance.
How is this different from bankruptcy?
- Debt Settlement (unlike bankruptcy) is a private negotiation with our Debt Settlement Partner's Legal Team and your creditors. Furthermore, Bankruptcy is a Public Filing that is accessible to everyone including potential employers, current creditors, future creditors etc.
- Bankruptcy can stay on your credit report for the next 7-10 years
How do I know this is not a scam?
Although there are fraudulent companies posing as Debt Settlement companies, there are plenty of legitimate ones that can help you get out of debt. Our Debt Settlement Partners operate an actual legit established Licensed and credentialed Law Firm with an A+ rating from the Better Business Bureau and is regulated by the State Bar.
Our client’s results are our number one priority. And our clients become the clients of our Debt Settlement Partners as well, and as such also become their number one priority.
Don't see a questions and/or concern answered here? Or you need further clarification?
No problem. Simply fill out the FREE Consultation/Contact Us Form by Clicking Here and one of our experienced Professional Debt Settlement Consultant Partners will be in touch with you to schedule a convenient time for you, so that all of your questions and/or concerns can be addressed.