Debt Resolution Bailout
 
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Check out our most commonly asked questions.
Frequently Asked Questions




Is this the same as debt settlement?

Yes, some of the processes we use are considered to be debt settlement. There are many other services which we provide to help resolve problem debt. Including lowering of interest charged on current accounts, validation, and credit improvement.

Should I keep at least one credit card account open?

Many credit card accounts which are currently on your credit report are required to maintain the best credit. A major factor in maintaining your credit is the length of time you’ve had these accounts. If you close some of your current accounts it will have some negative repercussions to your credit. Also, leveraging your credit to have access to more money is an important advantage that great credit will provide for business.

How do I calculate my monthly payment?

Setting up a low monthly payment will establish that you indeed are trying to take care of past debt on your accounts. It is important for you to represent that your situation is critical and that your creditors may lose all opportunity to collect on your accounts. During this time you’re setting aside money to settle your accounts and pay off current collections. Setting up payment will help you avoid any further collection efforts being made such as judgments and wage garnishment.

What if one particular month I can’t make my monthly payment?


If an extenuating circumstance arises and you are unable to make your payment at some time in the future, simply pick up the phone and establish you’re trying to be forthcoming in paying the debt. They certainly understand that circumstances come up (stuff happens) and are willing to work with you. We can call and let them know what your situation may be.

Is there a benefit to paying off the remaining debt in full as soon as possible?

Yes, you are honoring your current agreement with the credit extending company. Statistics show that consumers are less likely to pay on an account which is sent to collections because of further costs attributed to the account. It is in the credit extending company’s best interests to help you keep the account from going to collections.

Is there more that your company can do to take care of past collections than strictly debt settlement?

Yes, there are always options which we can provide you. Take the time to discuss the specifics of your situation with one of our debt elimination experts and we’ll provide you with the information needed.

How will this debt resolution affect my credit rating?

It certainly can be very different depending on the specifics of your situation. In some instances it may make sense for you to withhold payment to allow the debt to be charged-off and for you to have an opportunity to renegotiate the terms of the loan. In a lot of cases, after the debt has been charged off the collection company is interested in collecting the debt and doing it as soon as possible. We are glad you are keeping your credit rating in mind and it is our goal to help you maximize your credit rating over time.
As you begin the program, you might experience a dip in your credit scores if your creditors choose to report lates to the bureaus.
On the other hand, if you are currently experiencing lates, collections etc., there should be no additional dip in your credit score. Certainly reducing your unsecured debt by as much as possible.

Will the program help me qualify for an FHA loan?

Good news, yes it will. When you have unpaid debt that is late or in collection you will not qualify for an FHA loan. With our DEBT RESOLUTION program once we have resolved your debt.

Will this debt resolution affect my ability to negotiate on my mortgage?

Because you will effectively reduce your unsecured debt by as much as much as 60% or more. This may in fact be a huge help in negotiating not only on your current mortgage, but also a new mortgages.

Why is this better alternative to bankruptcy?

First of all, the devastating impact that bankruptcy has on your personal credit has been well documented. This may have a negative effect will last 7–10 years! The DEBT RESOLUTION program does not have the associated stigma and devastating impact on your credit.

Will I receive a 1099 from my creditor or owe the IRS more money because of my debt resolution?

Yes, in many cases this may be the case.

What else can I do to start improving my credit?

Certainly, once the DEBT RESOLUTION program has reduced your unsecured debt by as much 60%.

What do I need to do in order to refer people I know that need the same help I received?

If you have signed up for the PLATINUM REFERRAL PROGRAM, you have the ability to earn hundreds of dollars by referring other people you know to our service. The simplest way to do this is to use our affiliate website. You simply share your personal story of how we were able to reduce your unsecured debt by up to 60% and they will naturally want to receive the same phenomenal benefit that you did. At that point, all you need to do is refer them to your website, they learn all about the program and then enter their contact information. Someone from our office will then contact them, answer any questions they have, and get them started on the same wonderful path of DEBT RESOLUTION that you are on today. Because they came through your website, you will get the referral credit and receive $125 for the referral. We have many clients who love this PLATINUM REFERRAL PROGRAM and have as their monthly goal to both share with people they know who definitely need the help, and earn enough in referral income to pay their own DEBT RESOLUTION payment to the firm!