US Debt Resolve
One of our friendly and knowledgeable Debt Analysts will
walk you through our program, answer any questions that you may have and give you a free no obligation quote, for your consideration.
Our Debt Settlement Program
works best for consumers with unsecured debt of $10,000 or more. Qualified unsecured debt includes: Credit cards, department store cards,
personal loans or other debt that is not secured by real estate or vehicles.
Debt Settlement Calculator
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Questions for Prospective Debt Settlement Companies
QUESTIONS THAT SHOULD BE ANSWERED DIRECTLY WHEN TALKING TO A DEBT CONSULTANT REGARDING
DEBT SETTLEMENT:
Will I be using a trust account?
Trust Accounts, such as a Global Special Purpose Accounts through an FDIC insured bank, help you save funds throughout your settlement
program to ensure successful completion.
Will my program last 24, 36 or 48 months?
Depending on your personal circumstances and affordability, the consultant should be able to customize a solution to help you get out of debt in the
most practical time frame for your finances.
What are your fees and how are the fees
structured?
Companies typically only charge between 13-18% of your debt to negotiate your debt balances. Does the company charge these fees upfront or over a
longer period of time?
How long have you been in the debt settlement
industry?
The debt settlement industry has risen rapidly since 2006. Try looking for companies that have done business since 2005, as those companies typically
have a proven track record in the industry.
Are you an ISO 9001:2000 Certified company?
Less than 1% of debt settlement companies have achieved this honored certification, and this international standard is actually required by some states.
How much debt have you settled?
The actual dollar amount of debt settled is not nearly as important as the percentage. Beware of the companies who advertise the total dollar amount of
debt settled, as this could be much lower than performance expectations with other companies.
What will happen to my credit report?
Debt Settlement typically does not show up on your credit report as a third party intervention. Every debt consultant should tell you that your
accounts WILL go into a past-due status, however the reflection will be the Debt Amount & Term on your report.
Will each account reach a past-due status?
When speaking with a debt consultant, this should always be "YES". In order to gain leverage with your creditors, the accounts reach a past-due status,
but then the accounts are negotiated and updated with a balance of “zero” and reflect a term similar to "Account Settled/ Settled in Full"
When can I expect my first settlement?
Depending on your fee allocation, your first settlement could happen within the first 6 months or 18 months. It is very important you review your
application for fee details and funds availability at 6 & 12 months.
Exactly how long will this take and how much
will it cost?
It is important you find out how much the entire program will cost. Other fees such as initial start up costs, monthly maintenance fees and settlement
charges could really effect the total cost of the program.
Are there tax consequences that I should be made
aware of?
All consultants should be truthful in explaining that forgiveness of any debts could be potentially reported by your creditor to the IRS as income.
Debt consultants ARE NOT tax attorneys, so advice from them regarding taxes should not be given.
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