Frequently Asked Questions

• Why am I not able to make suitable arrangements with my creditors?
• I am managing to make my payments should I just not continue this way?
• I can't afford any more expenses so how can I make use of your services?
• At the moment I still have a good credit rating, what will happen to it when I opt in for your solutions?
• I want to get out of debt as quickly as possible, will I be able allowed to make larger payments when my financial situation is better?
• Should I continue making payments before your formal solution begins?
• When I have cleared one debt do I reduce my payments?
• Will I still be chased by my creditors?

Why am I not able to make suitable arrangements with my creditors?

A: If you are in the situation where your interest rates are robbing you blind, you are being hit with late charges, and are receiving not stop phone calls for payment, you are probably not dealing with individuals who have the authority to negotiate with you. These are the people whose job is to get the money owed, and its almost impossible to get past them to any level of authority who can make suitable arrangements with you.

We have the experience and resources that are able to bypass the first line collectors and get to the personnel who recognize that they are dealing with us as experts in finances. We are able to get to the right people with the right approach.

Q: I am managing to make my payments should I just not continue this way?

A: You are managing to maintain a good credit rating by doing this, but if you look at the month end statement after a payment has been made you will likely see only a few dollars difference in what you still owe. This is because the bulk of your money is going to the interest owed. It will no doubt take you years to pay off the small amount of principal actually owing, with the bulk of your payments being interest only. Our solution to this is our methods of negotiation which may include getting the interest waived or reduced to a comfortable level, where you will notice a significant decline in the principal owed each month. It may allow you to get to a point where you can make larger payments and bring the debt to an end much quicker.

Q: I can't afford any more expenses so how can I make use of your services?

A: To begin with we don't charge up front fees. We work hand in hand with non profit organizations. The only cost incurred is a small monthly fee payable to our organization to cover administrative fees generated as a result of the monthly account handling. Our group of professional counselors have ongoing operating costs which these monthly fees cover. The good news is that once we have arranged your debt solution your finances become far more stabilized, and the monthly fee requested will be an easy obligation for you to handle as your monthly payment will be greatly reduced over what you are paying now.

Q: At the moment I still have a good credit rating, what will happen to it when I opt in for your solutions?

A1: Although it may show on your credit report that you are dealing with your debt crisis through our services it can work to your benefit. Future creditors may acknowledge the fact that you took responsible steps to meet your financial obligations. Even though your credit rating is stable it most likely shows some negative aspects to it like late or missed payments.

A2: If you do not have a good credit history currently, then Debt Consolidation Services can only help you. If you make your payments in full and on time, then many of your creditors will "re-age" your account, which means they will show your accounts as current after several payments. In general, if you are paying off debt, it reflects favorably in your credit report. Showing that you are working through a debt consolidation service may show future creditors that you needed help but wanted to pay off your debts in full.

Q: I want to get out of debt as quickly as possible, will I be able allowed to make larger payments when my financial situation is better?

A: We are always available to advise you and support your choices. You simply need to inform us of how much extra money you would like to allot to your debts, and we will determine which creditor would be the best for you to pay down first, that will help you reach your debt free goals that much quicker.

Q: Should I continue making payments before your formal solution begins?

A: It takes about 30 days to get our solutions fully in place. It is to your advantage to continue making your regular payments during this set up period. This way non payment does not interfere with our negotiations or the administration of setting up your payment schedule.

Q: When I have cleared one debt do I reduce my payments?

A: You can, but ideally if you increase your payments to the balances left on the other creditors your debt reduction will happen much quicker, and you will become debt free that much sooner. By this time you will have adjusted to your monthly budget anyway so you will not find it a extra burden, but it will serve as a greater benefit to you.

Q: Will I still be chased by my creditors?

A: The debt collections departments are often the last to be informed that satisfactory arrangements have been made. They may continue to call you but all you need to do is direct their inquires to our accounting department who will deal with them. On occasion you may receive calls from third party collectors who your creditor deals with. If this is the case inform us of this, and you can advise them to cease and desist their collection efforts via a formal letter that we will provide you with. Be sure to keep your account advisor up to date on any contact made with you concerning your debts.