Frequently Asked Questions

• What is Debt Management?
• How does the program work?
• How long will it take to complete the program?
• What is the REDUCED INTEREST RATE PROGRAM®?
• Is a debt consolidation loan an option?
• Is bankruptcy an option?
• How much does this service cost?
• Will I still receive harassing phone calls?
• What is an unsecured debt?
• What is a secured debt?
• Do I have to include all of my debts?
• How will this affect my credit?
• What is your Refund Policy?

Debt management is a process that allows a professional firm to reach an agreement with your creditors to achieve the lowest and most affordable monthly obligation needed to satisfy all your credit accounts. Although this is NOT A LOAN, we are able to assist clients in dramatically reducing their overall interest rate, monthly payments, and most importantly pay-off time. Back To Top

All of your accounts are grouped into one manageable monthly payment that is then disbursed to your creditors each month on the same date. We work with your creditors to reduce or eliminate your interest rates, re-age your accounts, and stop late & over limit fees. Although creditors recognize that people who enter into a counseling program are making a good faith effort to repay their obligations, we cannot guarantee that all creditors will agree to participate. By joining an established debt management program, you solve the underlying problems of high debt without taking drastic steps such as declaring bankruptcy or committing yourself to a long-term debt consolidation loan. Back To Top

The length of time necessary to complete the program varies from case to case and will be discussed with you in your free consultation after review of your online consultation form. Depending on the total amount of your debt, the pay off time can be reduced from 15-30 years down to 4-6 years. This process can literally save you thousands of dollars in finance charges. Back To Top

The REDUCED INTEREST RATE PROGRAM® is a program designed to reduce or eliminate your interest charges and help stop over limit & late fees. It is specifically designed to reduce your unsecured debt by lowering interest rates. With this exclusive program, we are able to: Reduce interest rates typically to an average of 6-12% Stop over limit fees & late fees Cut your overall payment time dramatically Re-age your accounts (Bring them up to current status on your credit report) Creditors often charge average interest rates of 22-25% and often as high as 30%. By enrolling the REDUCED INTEREST RATE PROGRAM®, we are often able to save you thousands of dollars in interest! Back To Top

Simply, a debt consolidation loan usually requires collateral (i.e. home, car, 401k or retirement funds, etc.). This type of loan will not reduce the amount of money you owe. It will only place your assets at risk and extend your debt further into the future. Back To Top

Bankruptcy is the option of last resort and a serious decision in which an attorney should be consulted. Although it will eliminate your debts, taking this action will have a long-term negative effect. First consider the cost; filing for bankruptcy can cost $1,500 - $2,500. You must go to court and may have to face some of your creditors. Additionally, a bankruptcy remains on your credit history for 10 years and may impact your ability to get credit, or possibly employment. Also, a bankruptcy on your credit history can affect the cost of various types of insurance and even a place to live. Back To Top

As a non-profit community service organization, we are very sensitive to the financial crunch our clients are under. We pride ourselves in providing our clients with a superior level of service which they deserve and expect. Therefore, we charge a very nominal service fee based on the client’s amount of debt as well as the total number of creditors they are putting into the program. Upon review of a client’s account, our counselors would be able to advise a client of the exact fee. Back To Top

Upon enrollment into the REDUCED INTEREST RATE PROGRAM®, your collection calls will begin to dissipate as we begin to handle your account. Within as little as 2-4 weeks, you can begin to answer your telephone again knowing it will not be a creditor. Back To Top

An unsecured debt is one for which a creditor holds no collateral or property that they can take back if the debtor fails to pay. These generally arise out of a contract you enter into with a creditor which enables you to obtain goods or services on credit in exchange for your promise to pay that creditor back. If you fall behind on this type of debt, the only recourse the lender has is legal action.   EXAMPLES Credit Cards Medical Bills Personal Loans Department Store Cards Legal Bills Unsecured Personal Loans Cellular Telephone Bills Magazine/Record Clubs Health Club Memberships Collection Agencies IRS Some Judgments Student Loans     Back To Top

A secured debt is a loan where the creditor retains a security interest in an item of real or personal property such as a house or automobile. Most secured loans such as mortgage payments and auto loans cannot be consolidated, as well as, any loan cosigned by another person. The laws regarding home mortgages vary from each individual state and the lenders rights are usually dependant on the terms of the mortgage, in addition to, other mitigating factors. With these types of debts it is important to seek competent legal advice to protect your interests.   EXAMPLES Cars Houses Boats Back To Top

You can select which accounts you would like us to resolve. It may be recommended that you include all or most of your unsecured debt. These options will be discussed during your free initial consultation. Back To Top

Upon joining a DMP your creditor score may be affected negatively or positively depending on your present status and your future payment history. Back To Top

You may cancel this agreement without any penalty or obligation within 5 business days from the date the agreement is signed. If you cancel within the prescribed period of time any payment made by you under this agreement, will be returned to you less your monthly service fee, within 30 to 90 days following receipt of your cancellation notice, depending on method of payment made. Back To Top