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Debt Programs
Debt Consolidation
Debt Consolidation Plans are for credit cards, medical bills, unsecured loans and/or collections accounts. (No secured debts can be included. This includes house, or car payments, and any loans or accounts with collateral attached).
Only consumers having difficulty meeting monthly payment requirements or are unable to reduce their balances should apply. Debt Consolidation Programs can also benefit an individual who is current on his or her accounts. While this person may be currently meeting his or her monthly payments, it may be a continual struggle to do so. Debt consolidation is not appropriate for consumers who are shopping for a better interest rate.
The Debt Consolidation Plan may reduce or eliminate interest rates as well as stop late and over-limit fees. This program may also reduce a consumer's overall monthly payment. Interest rates will vary depending on the creditors, but are usually around 6-9% and sometimes eliminated.
The Debt Consolidation Plan can help the person improve their credit, as many creditors will report the account current after they receive three consecutive program payments, and they will reduce the total debt owed since more of their monthly payment will go towards principle and not interest rates.
The Debt Consolidation Programs offer several benefits to consumers:
- Make a consistent payment each month throughout the program
- Able to repay the outstanding balance faster. Typically becoming debt free within 12-36 months.
- Once set up into a Debt Consolidation Plan, collection activity on an account will stop.
Debt Settlement
Debt Settlement is a service that was developed to help people who can no longer afford to pay their monthly minimums and do not want to file for bankruptcy.
Debt Settlement is a legal process whereby a consumer retains the services of an attorney to represent them in negotiations with that individual’s creditors. Our affiliates Qualified Debt Negotiation attorneys leverage Federal and State consumer laws, as well as their existing relationships with major creditors, to negotiate the repayment of the consumer’s unsecured debts for significantly less than the full amount.
Example:
1) Credit Card #1: Balance Owed = $8,400 | Negotiation = $4,200
2) Charged Off Account: Balance Owed = $15,000 | Negotiation = $7,200
3) Account in Collections: Balance Owed = $3,600 | Negotiation = $2,000
Total Debt: $27,000 | Total Negotiated: $13,400
In the example above, our affiliates attorneys were able to negotiate a total settlement amount due of $13,400. That equates to a savings of $13,600 or approximately 50% of the total debt originally owed.
Debt Settlement is the fastest growing and most effective alternative to bankruptcy. Debt Settlement is not the same as Consumer Credit Counseling, Debt Consolidation or Debt Validation. By retaining the services of our affiliate’s attorneys to facilitate a Debt Settlement, our clients can expect to benefit from the use of the most effective Debt Settlement strategies available.
The Debt Settlement Programs offer several benefits to consumers:
- Pay a fraction of the total balance
- Decrease time to eliminate debt
- Reduce creditor phone calls
- Improve debt to income ratio
- Eliminate unsecured debt in as little 3-5 years
There are some risks associated with the program such as the collection process continues, it will have a temporary negative effect on credit rating and creditors may pursue a legal action.
Our Debt Settlement solution has many American families avoid bankruptcy and take the first step towards reaching their goal of financial freedom. The ultimate objective of the program is to get you the fastest debt relief possible so that you can focus on enjoying your life. You will be relieved of your debt burdens, you will avoid the hardships of bankruptcy, and more importantly, you will finally be debt-free!
