Frequently Asked Questions FAQ about Debt Consolidation

Will you provide me with a loan?
If you are looking for a loan that is not what you will get here. Our debt consolidation services is a managed program that will allow you to pay back your debts through credit management instead of a loan. A loan is never a good idea because it may cost you your home if you are unable to make the payments.

What will it cost me?
When you are in debt the last thing you want to hear is that you will have to pay someone to help you get out of debt. Some companies do charge a fee, but it is a very low fee and you will pay it monthly. They do not change our fee based on the amount of creditors that you are paying, so you know that we will help you regardless of your current financial standing. While you will pay a fee monthly, you will still be paying less each month than you are paying now, so even with the fee you will reduce your debt and be debt free in less time.

What is debt consolidation?
Debt consolidation does not involve loans, instead it involves working with a debt repayment representative that will help you combine all of your debts, lowering your interest rates and lowering your overall monthly expense. We will work with your creditors to lower interest rates and even reduce your charges, allowing for you to pay back the funds more quickly than you might have been able to on your own.

Are you affiliated with or do you act as a collection agency?
We are not a collection agency. Instead of working with you to pay back the debts, we work with you and your creditors to help you pay off your debts. When you work with us, we can get those harassing phone calls to stop and you may even stop getting notices from collection agencies after you have made a few payments. Regardless of the amount of debt you have, we are here to help you and we do not work on behalf of or act as a collection agency.

Will you repair my credit?
We do not do anything except help you help yourself. By paying off your debts you will be able to improve your credit rating on your own, though this will take time. Your credit report reflects the last seven years of activity, but when you begin to make payments you will start having more positive notations crop up, which will help to increase your buying power.

What can I consolidate?
This is a common question, and you should know that you can only consolidate unsecured debts. For most people this includes credit card debts, department store debts, medical bills, finance company debts, unsecured personal loans, and gas credit cards. Some of the bills that you cannot consolidate include mortgages, auto loans, and loans that have been co-signed.

Isn't bankruptcy an option?
You should always consider bankruptcy your last resort. Debt consolidation should come before bankruptcy as this gives you a chance to get out of the debt that you are in. While your credit report shows the last seven years of activity, bankruptcy sticks with you for 10 years, meaning your credit is damaged for a long period of time and you may also lose a lot of your possessions in the process.

Will collection agencies stop harassing me?
Generally speaking, when we notify the creditors that you are enrolled in our program and that you are working on paying off these debts, the calls with stop. You often have to make a couple payments before all of the calls will stop, but eventually the ringing of the phone will stop and you can rest easy.

How long will I need to be enrolled?
How long you will need to be enrolled in the program really depends on how much debt you have. When you consider that you will be paying on your current debts on average for the next 30 years if you keep making minimum payments, anything sounds better than that! The average person is enrolled in our program for 32 months.

How do my bills get paid?
When you enroll in our program we will take all of your debts and work them into one monthly payment that you will make to us. We then take this money and pay it to your creditors on your behalf. We ensure that the monthly payment is less than you are paying now so you can actually work on paying off more of the debt more quickly.

Can I pay more than the minimum bill due to you?
If you would like to pay more than the minimum amount due on your monthly bills, just contact us. We would be happy to help you restructure or even make a one time payment of a larger amount. We are here to help you out in any way possible, including helping you make larger payments.

Disclaimer: This site is not , nor should it be taken to be, legal, financial or other professional advice. It merely provides a generalized guidance and generalized information only. Consult a financial advisor or an attorney to discuss any legal or financial issues involved with credit and debt decisions.