Debt Management: Frequently
Asked Questions
- What
is Debt Management?
- How
does the program work?
- How
long will it take to complete
the program?
- What
is the REDUCED INTEREST RATE
PROGRAMŽ?
- Is
a debt consolidation loan
an option?
- Is
bankruptcy an option?
- How
much does this service cost?
- Will
I still receive harassing
phone calls?
- What
is an unsecured debt?
- What
is a secured debt?
- Do
I have to include all of my
debts?
- How
will this affect my credit?
- What
is your Refund Policy?
1.
What is Debt Management?
Debt management
is a process that
allows a professional
firm to reach an agreement
with your creditors
to achieve the lowest
and most affordable
monthly obligation
needed to satisfy
all your credit accounts.
Although this is NOT
A LOAN, we are able
to assist clients
in dramatically reducing
their overall interest
rate, monthly payments,
and most importantly
pay-off time.
CLICK HERE for a FREE Debt Reduction Consultation and Lower Your Debt Today.
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2.
How does the program work?
All of your accounts
are grouped into one
manageable monthly
payment that is then
disbursed to your
creditors each month
on the same date.
We work with your
creditors to reduce
or eliminate your
interest rates, re-age
your accounts, and
stop late & over limit
fees. Although creditors
recognize that people
who enter into a counseling
program are making
a good faith effort
to repay their obligations,
we cannot guarantee
that all creditors
will agree to participate.
By joining an established
debt management program,
you solve the underlying
problems of high debt
without taking drastic
steps such as declaring
bankruptcy or committing
yourself to a long-term
debt consolidation
loan.
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3.
How long will it take to complete
the program?
The length of time
necessary to complete
the program varies
from case to case
and will be discussed
with you in your free
consultation after
review of your online
consultation form.
Depending on the total
amount of your debt,
the pay off time can
be reduced from 15-30
years down to 4-6
years. This process
can drastically save
you thousands of dollars
in finance charges.
CLICK HERE for a FREE Debt Reduction Consultation and Lower Your Debt Today.
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4.
What is the REDUCED INTEREST
RATE PROGRAMŽ?
The REDUCED INTEREST
RATE PROGRAMŽ is a
program designed to
reduce or eliminate
your interest charges
and help stop over
limit & late fees.
It is specifically
designed to reduce
your unsecured debt
by lowering interest
rates.
With this exclusive
program, we are able
to:
- Reduce interest
rates typically
to an average
of 6-12%
- Stop over limit
fees & late fees
- Cut your overall
payment time in
dramatically
- Re-age your
accounts (Bring
them up to current
status on your
credit report)
Creditors often charge
average interest rates
of 22-25% and often
as high as 30%.
By enrolling the REDUCED
INTEREST RATE PROGRAMŽ,
we are often able
to save you thousands
of dollars in interest!
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5.
Is a debt consolidation loan
an option?
6.
Is bankruptcy an option?
Bankruptcy is the
option of last resort
and a serious decision
in which an attorney
should be consulted.
Although it will eliminate
your debts, taking
this action will have
a long-term negative
effect. First consider
the cost; filing for
bankruptcy can cost
$1,200 - $1,500. You
must go to court and
may have to face some
of your creditors.
Additionally, a bankruptcy
remains on your credit
history for 10 years
and may impact your
ability to get credit,
or possibly employment.
Also, a bankruptcy
on your credit history
can affect the cost
of various types of
insurance and even
a place to live.
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7.
How much does this service cost?
As a non-profit
community service
organization, we are
very sensitive to
the financial crunch
our clients are under.
We pride ourselves
in providing our clients
with a superior level
of service which they
deserve and expect.
Therefore, we charge
a very nominal service
fee based on the client’s
amount of debt as
well as the total
number of creditors
they are putting into
the program. Upon
review of a client’s
account, our counselor’s
would be able to advise
a client of the exact
fee.
CLICK HERE for a FREE Debt Reduction Consultation and Lower Your Debt Today.
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8.
Will I still receive harassing
phone calls?
Upon enrollment
into the REDUCED INTEREST
RATE PROGRAMŽ, your
collection calls will
begin to dissipate
as we begin to handle
your account. Within
as little as 2-4 weeks,
you can begin to answer
your telephone again
knowing it will not
be a creditor.
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9.
What is an unsecured debt?
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An unsecured debt
is one for which a
creditor holds no
collateral or property
that they can take
back if the debtor
fails to pay. These
generally arise out
of a contract you
enter into with a
creditor which enables
you to obtain goods
or services on credit
in exchange for your
promise to pay that
creditor back. If
you fall behind on
this type of debt,
the only recourse
the lender has is
legal action. |
EXAMPLES
| Credit
Cards |
Medical
Bills |
Personal
Loans |
| Department
Store Cards |
Legal
Bills |
Unsecured
Personal Loans |
| Cellular
Telephone Bills |
Magazine/Record
Clubs |
Health
Club Memberships |
| Collection
Agencies |
IRS |
Some
Judgments |
| Student
Loans |
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CLICK HERE for a FREE Debt Reduction Consultation and Lower Your Debt Today.
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10.
What is a secured debt?
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A secured debt is
a loan where the creditor
retains a security
interest in an item
of real or personal
property such as a
house or automobile.
Most secured loans
such as mortgage payments
and auto loans cannot
be consolidated, as
well as, any loan
cosigned by another
person. The laws regarding
home mortgages vary
from each individual
state and the lenders
rights are usually
dependant on the terms
of the mortgage, in
addition to, other
mitigating factors.
With these types of
debts it is important
to seek competent
legal advice to protect
your interests. |
EXAMPLES
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11.
Do I have to include all of
my debts?
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