Expert Debt Fix

Credit card debt settlement entails submitting a lump-sum payment for the majority of what you owe. In return, the company that owns the debt forgives part of the outstanding balance as well as certain fees and finance charges.
This is a good option if you are challenged with a high amount of debt. It can save you money by potentially reducing the principal balance owed on your accounts so that you can pay them off for less.

Debt forgiveness does exist, and it is possible to settle your balance for less than what you owe. But to have it totally erased is rare, unless you have a compelling reason like fraud or identity theft.

All of our services are completely confidential. We will only contact your creditors if you decide to begin a DMP, in order to set up your repayment plan.

Yes. You can still benefit from a debt management plan even if you've become delinquent on your credit card accounts. Depending on the creditor and the severity of the delinquency, your accounts may even be considered current after a certain number of DMP payments.

A DMP is not a loan or a line of credit and won't be listed as a creditor on your credit report. Accounts included on a DMP may show as being paid through a debt management plan, but this should disappear once the account has been paid off.

All unsecured debts should be included on your debt management plan. However, exceptions can occasionally be made. Discuss any accounts you’d like to keep open with your counselor.

We charge a Onetime fee only that is 12%-18% of the total amount.
If we can’t settle your accounts, within a year , you don’t pay a penny , Total refund . In the end, the total you pay for the reduced debt and the fee is usually lower than the original debt amount.

Unsecured debt such as credit cards and medical bills are, by far, the most common debts associated with debt management programs. Utilities, rent and cell phone services are other types of unsecured debt that could be part of a DMP. Some installment contracts, such as country club or gym memberships also could be eligible. There is no hard-and-fast rule for how far in debt you must be to get in a program, but most creditors and legitimate credit counseling agencies say your financial situation needs to be severe. In other words, you must owe more money than your income and savings can reasonably handle. Secured debts, such as a mortgage or auto loan, are not eligible for the program.

The goal is to lower the interest rates you pay on all debt eligible for the program. Some debt – mortgages, auto loans – is not eligible so the interest rates there will not be affected.

A DMP is an attempt to consolidate debts into one payment by reducing interest rates and reducing fees. Bankruptcy is a legal declaration that you can’t repay debts, even after all assets are liquidated. Filing for bankruptcy remains on your credit report for 10 years and can cause your credit score to drop by as much as 200 points.

The top benefit is that you are on a plan that should eliminate debts in 3-to-5 years and you will stop receiving harassing calls from debt collection agencies. Convenience is another plus. You make only one payment a month for your debt payment plan as opposed to numerous payments with numerous deadlines. You receive free educational material that should help you better understand how to manage debt. Finally, you can always call a credit counselor and receive free advice should your situation change.

No, creditors should stop calling you as soon as you start a debt payment plan and yes, they also will continue to send statements, which is important. Statements from the creditors should be matched up against statements from your DMP to make certain all payments are being applied correctly.

Yes.

If you find you have a healthier cash flow than your debt management plan budgeted for you, you can increase the amount of your monthly DMP payment either on a one-time basis or over a number of months. It’s never a bad idea to speed up the pace of your debt repayment when you can afford it. You should always let the credit counseling agency know in advance when you intend to submit more than the minimum payment.

Yes, with a Debt Management Plan you can alter your payment options. You can raise or lower your payments depending on your financial state. If your income reduces, it can be renegotiated in order to reduce payments. Similarly if you get an increment you can increase your payments to pay off quickly.

No, the creditors are not legally obliged to accept the reduced offers. However, it is normally accepted when it is seen that it is the maximum amount that you can afford to pay. Your Financial Statement containing details of the payments that are made to other creditors can also be send as an assurance of parity.

The time limit depends on your debt amount and the debt relief option used. Your creditors are requested to accept lower payments with reduced interest rates. Since you will pay back your debts slowly it will take a bit of time. If your circumstances change you can increase your monthly payments and become debt free faster.

Yes, there are a number of companies who will allow you credit or mortgage even when you are in debt. However this is not a good option as your financial state may turn worse. As such it is better to wait till your debts are cleared and then think of borrowing again.

Once you make your first payment, we will send your signed Power of Attorney (POA) to your creditors and start the negotiation process for DMP as per requirement.