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| Depending on your debt amount, our programs will get you debt free within 12-36 months in most cases and we will be by your side until you are debt free. |
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Negotiate Your Debt F.A.Q
Negotiate Your Debt’s programs are designed for people who have had severe financial hardships and want to avoid filing bankruptcy. Read the questions below for the basics on how our programs work, but we highly suggest you speak with one of our experienced Debt Settlement Counselors to evaluate your unique situation to see if you qualify.
Negotiate Your Debt offers debt elimination, not debt consolidation (credit counseling). The difference between the two is fairly simple as in Debt Consolidation none of your debt is eliminated, it is just consolidated into one monthly payment where you will pay back your full balance of your debt, plus retainer and interest fees. With Debt settlement however, we handle the arbitration with your creditors to negotiate a settlement of your outstanding debt that would potentially eliminate 40% to 70% of the outstanding balance.
Debt Settlement Benefits
A Tailored Debt Settlement Plan
Experienced professionals will create a tailored plan geared towards your specific needs and payment ability. All outstanding debt will be negotiated to obtain the best possible settlement for you, saving you thousands of dollars.
Reduce Costly Debt and Interest
Consumers can typically see 85% or more of their monthly credit card payment going toward interest and by paying only the minimum payment each month they will spend years paying off their debt. With debt settlement,
the goal of the program is to get your out of debt as quickly as
possible and to pay off your creditors, who are willing to accept a
fraction of what you owe them.
Avoid Bankruptcy
A debt settlement program can help you avoid the stigma and embarrassment of bankruptcy which can have a negative long term effect, sometimes appearing on your credit history for up to ten years. Additionally, bankruptcy can also affect future applications for credit, employment and housing. Due to these negative factors, bankruptcy should only be a means of last resort!
Expert Debt Settlement Professionals
Our professional debt settlement team will negotiate the best possible terms, provide a manageable plan consistent with your financial abilities while eliminating the stress of you dealing directly with your creditors.
Q. Who Is Qualified For Our Programs?
A. Negotiate You Debt is for people facing financial hardship due to loss of income, physical disability, inability to make timely payments, facing foreclosure or facing bankruptcy. Examples of Hardships include loss of income, medical emergencies, death in the household, and divorce to name a few.
Q. Who Is Not Qualified For Our Programs?
A. Negotiate Your Debt does not advocate that any person default on their debts. This program is not designed to negotiate debts for people who have reasonable means to pay off their debts. If you have the means to pay off your debts in the normal fashion, by all means we suggest you do.
Q. What Type of Debt Qualifies for a Debt Settlement Program?
A. Credit Card balances, Medical/Hospital bills, Department Store credit cards, unsecured personal loans, auto reposession Jewelry financing, furniture loans, computer loans over $1,000.
Q. How Do You Apply?
A. Our Debt Counselors will walk you through the application process over the phone after reviewing your financial situation to make sure you are qualified for our programs. We have helped hundreds of people in your exact situation, and many of our debt counselors have been in the same situation as you and understand what you are facing.
Q. How Will Negotiate Your Debt Settle My Debts?
A. We will help you create a settlement fund that you add to each month. Your monthly payment will be determined by an analysis of the amount of debt you owe and will be in-line with your income and expenses. As each person’s situation is different, the negotiation process will begin at different times depending on how much you owe each creditor. Once the creditors agree to a settlement amount, we will settle the debt at a fraction of what you previously owed until all of your debts are settled and discharged. Our Debt negotiators have long experience working with creditors and know how to reduce your debt to the lowest possible amount.
Q. Is Bankruptcy A Better Option For Me?
A. Anyone considering our program may want to consider Bankruptcy and contact a Bankruptcy attorney. Bankruptcy has longer term consequences and more restrictions, but may be a viable option of you cannot stick with the debt settlement program through to completion. Debt Settlement programs do not guarantee you will not have to file for bankruptcy in the future, especially if you continue to spend beyond your means.
Q. Does Debt Settlement Have A Negative Impact On my Credit?
A. YES! Your credit score will decline due to entering this program. How much it will decline depends on your original circumstances. The last thing you need is more credit as that is how you got overextended in the first place. Most of the accounts you settle will be reported as a Charge Off that has been settled, which reflect negatively on your credit score once it is reported to the credit bureaus. Settled accounts however are positive compared to unresolved delinquent accounts or a Bankruptcy, and with time will not be a factor of your score. Once your debts are settled, your credit may quickly improve since the negative items will get resolved, or you rebuild it on your own. Your debt to income ratio makes up to 30% of your credit score and you need to eliminate your debt first to really improve your score. A high credit score is desirable to have, but if you have financial hardships and are unable to pay your debts, a low score is inevitable and a bankruptcy will impact your score for up to 10 years. Your first priority should be to settle your debt so you can get back on your feet financially as your credit score is a snapshot for your financial picture at that moment in time and is not a permanent record.
Q. Can I Still Use My Credit Cards?
A. No. All Credit Cards in the program will not be active and you will not have cedit privileges. Any cards not in the program ideally should not be used as the goal of the program is to get you OUT OF DEBT!
Q. Do You Guarantee To Settle All Of My Debts?
A. NO. There is no guarantee that your creditors will negotiate with us or that your debts will be reduced, but our experience is that most will.
Q. Can I Be Sued?
A. YES. Your Creditors always retain the right to sue you, although usually the purpose of the suit is to force a settlement on the matter. In our experience, most creditors would rather not go to the time and expense of suing and would rather negotiate a settlement, and we will be proactive in that regard.
Q. Can’t I Negotiate My Debts With My Creditors On My Own?
A. YES. You can negotiate your debts with your creditors on your own, and it may even cost you less in the long run if you are successful. You should note however that the Debt Settlement process can be a long and complex process for the average consumer. Creditors have trained agents with scripts and the experience to overcome all of your objections and the savvy consumer typically negotiates away less than 20% of their debt. Our debt negotiators have the skills and knowledge of how your creditors negotiate, how far they will go, and have many years of experience negotiating the largest debt reductions. You don’t have to spend all the time and effort trying to negotiate with your creditors, and you can rely on our experience and the negotiating advantage that we pool the debts of thousands of consumers together to get you the best settlement possible.
Q. Does Negotiate Your Debts Stop My creditors From Calling?
A. NO. Your creditors have every right to try and contact you in order to collect a debt. If your accounts are already in collections, collection agencies must adhere to FDCPA Guidelines, and we will help you maintain your rights under the Fair Collection Practices Act. |
