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Debt Reduction
Q: How does the Debt Consultation work?
Q: How does the Debt Consultation differ from Credit Counseling or Debt Settlement?
Q: Should I consider bankruptcy?
Q: Approximately how much would my monthly payments be if I had credit card debt of $10,000?
Q: What do I do if a creditor calls or sends statements?
Q: Can I continue to use my credit cards?
Q: How will the Debt Consultation Program affect my credit rating?
Q: I would like to begin eliminating my debt right away, how do I get started?
Q: What if my question is not listed?
Q: How does a Debt Program work?
A:We offer a program, which is designed to mediate debt. We effectively negotiate an interest free settlement on credit card debt (usually no more than 50-60 cents on the dollar, which includes our fees) and set up a payment schedule that eliminates the entire debt in 12 - 36 months. Contact us today!
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Q: How does theDebt Consultation Program differ from Credit Counseling or Debt Settlement?
A:With counseling programs the principal remains intact, and the interest rates are lowered, thereby reducing your monthly payment. Since the principal remains intact, it usually takes 5-7 years to complete the program. Annual and late fees remain in force with counseling programs. Since Credit Counseling Programs are non-profit, they solicit donations from their clients. Contact us today!
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Similar to Debt Settlement, we negotiate with your creditors to accept less than the full amount of the debt as payment in full. Interest payments, annual fees and late fees are effectively eliminated. We are a for profit program that charges fees rather than soliciting donations.
The big difference is that our consultants are legal counselors and credit card companies must negotiate with them, unlike debt settlement companies. Unlike debt consolidation, you don't have to make your unsecured debt (like credit card, medical debt) become secured debt (like your house or car is). We can respresent your interests in every venue of helping to resolve your financial issues.
Comparing Debt Elimination Options utilizing a $20,000 Debt
OPTION 1 Struggling to make the minimum payment until the debt is eliminated.(This illustration assumes client will not make any additional purchases on their credit cards until the debt has been paid in full.)
Debt Amount |
Interest Rate |
How Long |
Approximate Payout |
$20,000 |
18% |
28.5 Years |
$68,000 |
OPTION 2 Bankruptcy(Something we all want to avoid.)
OPTION 3 Consumer Credit Counseling
(With Consumer Credit Counseling the entire principal, annual fees, late fees and reduced interest rates remain in force. This is a non-profit program, and donations are solicited for participation.)
Debt Amount |
Interest Rate |
How Long |
Approximate Payout |
$20,000 |
10% |
5-7 Years |
$28,000 + Donation |
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Q: Should I consider bankruptcy?
A: Bankruptcy may be considered as a last resort to protect your home. There are thousands of dollars in legal fees, and recent changes in the Bankruptcy Laws make it difficult to dismiss a debt if the court determines you have the ability to pay. A bankruptcy remains on your credit history for up to 10 years, and may have to be reported on Employment and Securities Questionnaires. Contact us today!
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Q: Approximately how much would my monthly payments be if I had credit card debt of $10,000?
A: The monthly payment would be somewhere between $200 & $417, depending upon how fast you would like to retire the debt.
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Q: What do I do if a creditor calls or sends statements?
A: You agree not to have any contact with your creditors, by phone, mail, or any other means during the duration of this program. Any contact from creditors is referred to us.
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Q: Can I continue to use my credit cards?
A: During the term of the program, you may use your credit cards. However, we'd prefer you didn't. Additionally, we recommend using a debit card instead.
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Q: How will Debt Consultation affect my credit rating?
A: There may be an adverse effect on your credit rating during the program. At the end of the Debt Negotiation Process there are credit repair and restoration programs that may be appropriate. Keep in mind that at the end of this program you will have ZERO credit card debt, positive cash flow and the ability to accumulate wealth; all of which will be positive factors in your future credit rating. . Contact us today!
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Q: I would like to begin eliminating my debt right away, how do I get started?
A: Getting started is easy. Simply click here, and fill out our brief debt consultation reqest form. We will contact you to go over the details of our negotiation program.
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Q: What if my question is not listed?
A: If you cannot find the answer to your question, simply go ahead and contact us and we would be happy to answer any additional questions you have.
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Every day we received phone calls from folks just like you, wanting to know the difference between debt consolidation, debt settlement, debt negotiations and debt consultation. So, we created this Debt Consolidation Loan vs Debt Settlement vs Debt Consultation HELP section to dispell any myths and help you choose the debt management option that's right for you.
Debt Consolidation Loan:
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Debt Settlement:
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Debt Negotiation Consultation: Very similar result to the Debt Settlement process except that this method uses lawyers and the banks MUST negotiate with the lawyers. By law, the banks no longer have to work with debt settlement companies at all.
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DEBT CONSOLIDATION
Do you want to payoff your credit cards or to consolidate many smaller debt payments into one lower tax deductible monthly payment? Tapping into you Home Equity with a consolidation loan might be the right choice for you. You can access the equity of your home either by refinancing your current mortgage loan ... possibly taking out a second mortgage loan ... or opening a new line of equity.
When would you want to choose a consolidation loan? You would choose a consolidation loan when your credit report is in excellent standing. Have you always been on time for all you debt payments? Never missed a payment? Maybe even paid your bills early or paid more towards your credit card debt than what your creditors required? If you answered YES to all those questions, a home consolidation loan might be right for you.
Why wouldn't you want a consolidation loan? A consolidation loan basically takes your unsecured debt (like credit cards, medical bills, signature loans) and secures it to an asset. That asset most often is your home. By securing debt that would otherwise have been unsecured, you run a great risk of loosing your home should you find yourself in financial difficulties in the future. Statics do show that folks who choose consolidation loans to resolve their credit card hardships, often end up defaulting on their consolidation loans with in about two years.
DEBT SETTLEMENT or CONSULTATION
When would you want to choose debt settlement? The laws have changed! You should never chose to work through a debt settlement comapny. It would be a waste of your money. Instead, You would choose debt consultation through a lawyer if you found yourself in financial hardship as a result of unsecured debt, like credit card debt, medical bills, or signature loans. You'd probably choose debt consultation if your credit report is less than perfect. You'll know your credit report is already in trouble if you've been late on any of your credit card debt payments.
Here are Your Debt Help Options:
CREDIT COUNSELING: You have to really work at this option because to be honest the success rate is very low. We think that's because it takes a great deal of determination to get yourself out of debt through credit counseling. However, if you can stick to it, you will get out debt with a fairly clean credit record and that's huge. You can get started now by filling out a short form here.
DEBT SETTLEMENT: Over 10 million people entered debt relief programs in 2004. The debt specialists and attornies are the nations leaders in debt negotiation and settlements, providing the financial relief that people are so desperately looking for today. Helping people eliminate their financial burden in 24 to 36 months and save them as much as 70% or more. Requirements for a qualified lead are: 1) Correct contact information, 2) Must live in the United States of America, 3) Must have at least $10,000 in unsecured debt, and 4) Must have a Hardship of some type. Avoid bankruptcy eliminate your debt!
DEBT CONSOLIDATION: Due to a slowing ecomony, and record layoffs, debt consolidation will be a place where consumers can turn for help. The amount of people in debt is astounding and chances are you could use this service. Mortgage rates are also still at all time lows or near to it. People will still continue to buy homes and refinance homes, even if rates continue to rise. Click here to become Debt Free!
CONSOLIDATION LOAN or REFINANCE LOAN: You simply complete our short online form and up to 4 lenders will compete for your business. Requirements for this service: $80K minimum current home value and 90% max LTV, No mobile homes, No false personal information or fraud, US leads only, and not in the following excluded States: WV ,ND, NM, IN, NC, NE, MS, DC, SD, HI. Get your fast & free mortgage quote now.
BANKRUPTCY: You can avoid bankruptcy most of the time, but when you can't you need a law firm to help you. Before any law firm can help you, the new laws require that you first consult with a credit counseling agency and make every effort to repay your debt. If that fails, then with proper documentation from the credit counseling agency, you can contact a bankruptcy attorney to file for bankruptcy. Bankruptcy is no longer an easy way out of your debt issues.
CREDIT CARD TO GET THROUGH ROUGH PATCH: Guaranteed Loans and Credit Cards - Any Credit History. Offering unsecured personal loans for bad credit. Bad credit is okay and even expected. Over 45 million Americans are in credit trouble, have poor credit ... this is one solution to help get through the rough patch. You're Approved for Guaranteed Unsecured Credit Cards and Personal Loans - Any Credit History Click Here
CREDIT REPAIR: Go here to Learn How To Repair Bad Credit.
