FAQs
Is it possible for me to ever get out of debt?
No matter how bleak your debt problems may seem, professional debt management services can work wonders. The purpose of debt management services is to get people out of debt faster and with fewer out-of-pocket costs. It can be done.
What services do you offer for debt problems?
We have two primary services: debt consolidation and debt settlement. Both can help with debt problems tremendously, but each is geared toward a certain type and level of debt.
What's the difference between debt consolidation and debt settlement?
Debt consolidation involves paying one bill per month to a consolidation service, which then divvies up the money among your creditors. This helps you pay your bills on time, reduce your monthly payments, and get out of debt problems faster. Debt settlement is meant for people with over $10,000 in debt. With debt settlement, you stop paying your creditors while we negotiate with them to get the amount of your debt reduced. In the meantime, you make monthly deposits into an interest-bearing account, which is then used to pay off your creditors at the end of negotiations. Typically, we can negotiate a deal where you pay only 40-60% of what you actually owe.
How will debt management services affect my credit?
Debt settlement will negative impact your credit in the short-term. However, the damage done pales in comparison to what declaring bankruptcy or having an account go to charge-off does to your credit. Whereas debt settlement blemishes are fairly easy to repair, bankruptcies and charge-offs can sully a credit report for decades.
Does it matter if my debt problems are with secured or unsecured debt?
Because creditors are more flexible in negotiating payments and terms when they do not have collateral to seize, unsecured debt lends itself better to our services. You are welcome to lump your unsecured debt into your consolidation loan for the sake of convenience, but it will have no significant impact on your monthly payments or interest charges.
If you have further questions, please get in touch with us on our "Contact Us" page.
