Frequently Asked Questions

 

Can I negotiate my own debt?
When will you start negotiating my debts?
Will my creditors continue to contact me?
Do all of my creditors have to be included in the Debt Settlement program?
How long will my Debt Settlement program last?
Can my Debt Settlement program be accelerated if extra funds become available?
Will I be able to get credit in the future?
How will a Debt Consolidation program help me?
Will you repair my credit?
What types of debt can I consolidate?
Will Debt Consolidation stop the harrssing creditor phone calls?
Can I pay more than the minimum Debt Consolidation payment?

 

Debt Settlement FAQ's

Can I negotiate my debt on my own?

Yes. However, most people would enlist the help of a specialist if they needed something outside their area of expertise. For example, if you needed a tooth pulled, you would go to a dentist, and if your car wasn't working properly, you would most likely take it to a mechanic. Creditors are experts in using tactics to get you to pay, and unless you have knowledge of the credit and collections industry policies and procedures, and the laws that apply, your results may not be what you had hoped for.

When will you start negotiating my debts?

Once you have enrolled in the program, your creditors will be notified, and the process will begin. Your debts will be resolved as funds become available through your savings plan.

Will my creditors continue to contact me?

The original creditor retains the right to contact you, until such time as the debt has been transferred to a 3rd party for collection efforts. Because you may still recieve phone calls from the creditors, we will provide you with the tools you need to handle those calls. Your creditors can also contact you by mail. If you have questions regarding any correspondence you receive, you should immediately contact your Solutions Specialist. They will handle all of your creditors and collectors on your behalf.

Do all of my creditors have to be included in the Debt Settlement program?

No. We will handle only those debts that you want to include in the program. Many people retain one credit account for emergency use. Discuss your situation with your Solutions Specialist.

How long will my Debt Settlement program last?

This is dependent upon the amount you can save monthly and how much debt you are have. At Debt Relief, we offer programs that can fit within any budget and can eliminate your debt in as little as 18 months. However, we will work with you to create a program that specifically address your needs and objectives.

Can my Debt Settlement program be accelerated if extra funds become available?

Yes. Negotiations on your behalf will begin just as soon as funds are available and the creditor is ready to do so. Many consumers get out of debt earlier than expected after securing funds for negotiation. There are no prepayment penalties for getting out of debt early!

Will I be able to get credit in the future?

Yes. When you have successfully finished the program, the debt you placed in our program will have a zero balance. Good cash flow and the ability to pay are what lenders look for. Clients are able to purchase homes, refinance and obtain credit cards, and re-establish their good credit rating.

Debt Consolidation FAQ's

How will a Debt Consolidation program help me?

Our Debt Consolidation program does not involve a loan, instead we are able to combine your debts into one reduced monthly payment, lower your interest rates and eliminate any future late and/or over-the-limit fees.  We work with your creditors, which makes it possible for you to pay back your debts more quickly than you would be able to on your own.

Will you repair my credit?

We do not do anything except help you help yourself.  By paying off your debts, you will be able to improve your credit rating on your own. Your credit report reflects the last seven years of activity, but when you begin to make payments you will start having more positive activity on your report.  This will help to increase your buying power.

What types of debt can I consolidate?

You can only include unsecured debs into the Debt Consolidation program.  This includes credit card debts, department store debts, medical bills, finance company debts, unsecured personal loans, etc.  Some of the bills that you cannot consolidate include mortgages, car loans, and loans that have collateral attached or a co-signer.

Will Debt Consolidation stop the harrssing creditor phone calls?

Generally speaking, when we notify the creditors that you are enrolled in our program and that you are working on paying off these debts, the calls with stop.  You often have to make a couple payments before all of the calls will stop, but eventually the ringing of the phone will stop and you can rest easy.

Can I pay more than the minimum Debt Consolidation payment?

If you would like to pay more than the minimum amount due, just contact us.  We would be happy to help you restructure or even make a one time payment of a larger amount. We are here to help you out in any way possible, including helping you make larger payments.