When you enroll in our debt settlement program, we set you up on a monthly payment that is as much as 50% lower than your current minimum monthly payment. In the meantime, our attorneys negotiate with the credit companies to get them to agree to substantially lower the amount you owe. Once you have saved enough money and a creditor has agreed to a pay off, our attorneys pay off the credit card company with a lump sum settlement that is a percentage of the original balance.

First, you fill out the quick application on our site and then a debt settlement expert will contact you. Our experts will determine if you fit our guidelines for our debt settlement program. Once you are accepted, one of our trained licensed attorneys will contact you and then begin defending your rights and working on a settlement with your creditors.

Yes, our attorneys can also settle medical bills, personal loans, repossessions, department store cards, gas cards, and accounts in collections. Since we negotiate with your creditors, we are unable to work with mortgages and cars because they will be able to recover the property in the event that you do not pay according to the terms they stipulate. However if you are having trouble with your mortgage payments and wish to remain in your home, please mention that to one of our experts and our trained legal deal can evaluate your situation and possibly help you remain in your home through loss mitigation.

The impact of credit card debt settlement on your credit depends a lot on what your credit is like now. If your credit is good now, then credit card debt settlement will have a negative effect on your credit. For consumers who have already fallen well behind, it is possible that credit card debt settlement may impact your credit positively by paying off the accounts and raising your credit score. Your FICO credit score is primarily based on your credit history (35% of your score) and the amount you owe (30% of your score). In a credit card debt settlement program, your credit history is affected negatively and the amount you owe is affected positively.

You don't have any savings. You make minimum payments on your credit cards. You get calls from debt collectors. You use credit cards for things you used to buy with cash, such as groceries, gas, or utilities bills. Your credit card debt to income is at or near 20 percent. You have more than three major credit cards that you are struggling to make payments on. You lie to your spouse or other family member about your spending or hide credit card statements from family members. After you pay your credit card bill, you increase your balance by the same amount (or more) the following month. You're at or near your credit limit on your credit cards. You write a check hoping that you have enough time to make a deposit before it clears. You're afraid to look at your statements each month. On the same token, you have no idea how much you owe. You lose sleep thinking about your debt. Your debt is putting an added stress on your marriage. If you lost your job, you would have no ability to make your bills.

In a credit card debt settlement program, our attorneys work on your behalf to reduce your balance by up to 70 percent. In a credit counseling program, counselors work on your behalf to reduce interest rates. The average credit card debt settlement program lasts between 1 and 3 years, whereas credit counseling services last for between 4 and 6 years. In general credit card debt settlement tends to be a more aggressive approach to debt elimination. .

There are two types of debt consolidation: secured and unsecured debt consolidation. With secured debt consolidation, a consumer gets a loan that is collateralized by a home or vehicle to pay off their credit card debt, and then pays back the loan at lower interest since it is secured by property. With an unsecured debt consolidation loan, a consumer gets a loan from a bank, presumably at a marginally lower interest rate, to pay off their credit card debt. Credit card debt settlement does not involve lending, but rather negotiating with credit card companies to reduce the amount you owe.

No, you will still only have to make one payment in our program.

No, credit card debt settlement is very different from bankruptcy. For starters, bankruptcy has far wider implications for your credit versus credit card debt settlement. Bankruptcy is a suitable alternative for consumers who do not have any income or are seeking debt relief for secured debts like mortgages and car loans. In a Chapter 7 bankruptcy, the court orders a debtor to liquidate all of their non-exempt property and a trustee pays the creditors back with the proceeds from their sale. In a Chapter 13 bankruptcy, the court orders a debtor to turn over all their disposable income for 5 years.

Debt collectors are bound by the Fair Debt Collections Practices Act (FDCPA). The FDCPA specifically states that a debt collector is obligated to contact third-parties with a Power of Attorney instead of the debtor.

Credit repair involves removing inaccurate or unverifiable information off your credit report. Clients of our credit card debt settlement program will oftentimes use credit repair after their debts are eliminated to more rapidly increase their credit scores. Unlike debt settlement, however, credit repair cannot eliminate debts that you actually owe.

No, our attorneys negotiate with your credit card companies to lower the amount that you owe. Once you have saved enough money and one of the credit card companies has agreed to lower the amount you owe, we pay them off with a lump sum settlement of your debt.

Absolutely. By paying off the debts faster your credit score will be able to improve more quickly since you'll be done with the program earlier. That is, if you are in 24 month program, you can start restoring your credit much faster than someone in a 36 months program. Moreover, shorter debt settlement programs are even less likely to be in danger of legal action by the creditor.

For the most part, we keep our clients in debt settlement programs that last no more than 3 years, oftentimes shorter. Because of highly favorable debtor laws, however, we are able to extend the program length for clients from certain states and certain income types (social security, disability, retirement, etc.) for up to 42 months. It should be noted that these cases are extremely rare.

Absolutely. The credit card debt settlement industry was originally started by lawyers representing wealthy clients who did not want to file bankruptcy.