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Q: What types of debt can I include in the program?
A: Unsecured debts such as credit cards, personal loans,
hospital bills, department store credit cards, old telephone bills,
gas cards, and repossessions can all be included.
Q: Can I apply for additional credit while I am on the program?
A: No. It would be best if you did not. Remember the reason you
are joining is to get out of debt. Applying for additional credit will
only create more debt for you to pay off.
Q: Will I have to qualify?
A: Anyone who has $7,500 or more in unsecured debt
(credit cards, personal loans, etc.), 18 years or older, and currently employed.
Q: Are my creditors going to continue to call
me?
A: We notify your creditors that we are representing
you and demand they stop contacting you. It usually takes 30-45
days for them to stop contacting you. In the meantime, you will
keep a creditor log and harassment worksheet of every phone call
or letter that you receive from a creditor and report it to us.
We will file suit on any creditor that is using harassing and illegal
collection practices.
Q: Will this program have a negative effect on
my credit?
A: The Debt Settlement Program may have a short-term
negative effect on your credit profile. However, any short-term negative effect will be offset by the long-term positive effect. Once negotiated
and settled, your creditors will report the accounts as "settled" or "balance
0".
Q: How long will it take for me to become debt
free?
A: It typically takes about 18-36 months after
we've negotiated the total amount of your debt. However, it could
be much sooner depending on your individual situation. We do have
programs which range between 12 and 60 months.
Q: What does this program cost me?
A: Our Debt Settlement Program costs are based
on an individual basis and are determined by you and your counselor. Your monthly payment will be based on what you can afford, your level of debt, income, and living expenses.
Q: What if I'm behind or not paying my
bills, can I still apply?
A: YES! Debt Management or Debt Consolidation Programs
are designed exactly for this situation. They work with you and your
creditors to create an affordable and manageable budget.
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