We are a full service financial service company that offers mortgage, real estate, life insurance/asset protection, debt settlement and loan modification.
Debt Settlement allows people to settle their debts in order to help them avoid bankruptcy. It is important to note that debt settlement is not right for everyone.
With a debt settlement, it's possible to:
- Reduce your debt to 40-60cents on the dollar
- Become debt free in 12-36 months
- Lower your monthly payments into one low payment
- Eliminate your stress and start fresh
- Avoid Bankruptcy
Fill out our form now to discuss debt settlement with an experienced financial coach. Do it today. You must act fast to save your home!
Ideal candidates are the following:
- Have an income source but can no longer can afford payments because a hardship.
- Have a high interest rate(s) with late fees and over the limit fees
- Have troubles making the payment(s)
If you are having troubles with your payment(s), you are likely a good candidate. To be a good candidate and qualify for debt settlement, the negotiator needs to be able to show the creditor that you have a reason for not making the payment (a “ hardship”) Even if you can not afford the payment(s) you originally
agreed to and nothing has changed since then, we may still be able to work with you and the creditor, There are many types of hardship and creditors are working with us every day to help settle debt.
Examples of hardships:
- Family emergency. (Medical or otherwise, Divorce)
- Loss of job (Must be able to show new source of income)
- Lower your monthly payments into one low payment
- Decrease in income (Reduced pay due to lack of overtime or other cuts)
- Increase in families expenses
Examples of hardships:
Act today. The most important factor in successfully helping you obtain a new, more affordable payment, is acting quickly. The earlier we get involved, the more options are available in our negotiation process with the creditor(s).
It doesn’t matter if you are fearing that you will not be able to afford your payment(s). We will work with you to do whatever is possible in order for you to get you debt free and enjoy the continued benefits of the american dream. Time is of the essence… act now and save your home.
There are a number of different options that should be considered when you are facing trouble with your debt. We have experts knowledgeable in each of these and our negotiators will consider options when developing possible solutions:
Pay Minimum (Do nothing)
- Interest can range from as low as 1.9% to as high as 30% and creditors can raise rates at any time.
- You'll pay nearly 50% of your original balance in interest alone over the first 3 years. You are not
making a dent on your principal balance.
- If your rates are 25% or higher, it is practically impossible to pay off your debt by making minimum payments unless you pay at least 3% of the balance in minimum payments monthly. Even then, it would take you over 35 years to pay off your debt.
- At lower rates, it will still take 20 to 40 years to pay off your debt with minimum payments with littleroom for obtaining additional credit.
- If you've already stopped making payments, you are destroying your credit while not resolving any of your debt in the process.
File Bankruptcy
- Both Chapter 7 and Chapter 13 bankruptcy represent a severe negative impact on your credit for 7-10 years.
- Can cost between $2,500-$25,000 to file.
- May have a negative impact on your employment status.
- In a Chapter 13 filing, you may end up paying 75 - 100% of your debt back.
- Chapter 7 is much more difficult to qualify for under the new bankruptcy laws.
- May result in higher interest rates on future loans.
- Carries a negative stigma, mental stress, and other burdens.
- Bankruptcy is a 'last resort'.
- Chapter 13 completion rates average only 32%..
Use Consumer Credit Counseling
- These companies are generally funded by the credit card companies themselves. They do not necessarily have your interest at heart.
- They are just another form of 'collection agency' they act as a bill paying service of which a survey of credit counseling companies showed that the average interest rate charged is around 11%. Credit counseling may make sense in some situations. Talk to one of our IADPA certified Debt Consultants to see if it is a good choice
for you.
- They will consolidate your bills into one monthly payment and lower interest rates.
- Your Balance will often take 3-7 years to pay down.
- Pay over 25% of principal balance in interest fees over the first three years.
- You'll end up paying back your full balance plus interest.
- Overall fees of an average credit counseling program are equivalent to or greater than those of a debt settlement programs.
- Negative impact on your credit from 5 - 8 years.
- This is often viewed by lending institutions as similar to Chapter 13 Bankruptcy.
- The average completion rate of consumer credit counseling is approximately 26%.
- If you miss multiple payments you may be subject to paying back past interest at your old rates that
you entered into the program with.
Debt Consolidation Loans
- Need to qualify first.
- Often requires ownership of Real Estate property or a pledge of collateral.
- Home Equity loan reduces future equity available in your property.
- Consolidates your credit card balances.
- Missing payments could cause you to lose your home or the collateral you pledged.
- A transaction fee is usually required upon closing or is built into the interest rates.
- Payback can be 10-20 years depending on debt balance and ability to pay back loan.
- You will pay back the full amount of credit card balances plus interest.
- Bottom line: You are exchanging your unsecured debts for a secured debt - a big risk.
Debt Settlement Program
- Debt Settlement Program
- Companies are independent and not affiliated with your creditors, and thus, are working for your best interests.
- Fees are rolled into the program and are spread out over time, usually 12-24 months, depending on the length of the program.
- Client's debt is paid off in anywhere from 12 - 36 months depending on cash availability.
- Will receive an 'open delinquency' on your credit until debts are settled.
- Lowers your debt to income ratio more quickly than Consumer Credit Counseling, which represents a significant factor in your ability to quality for a loan.
- You may typically end up paying only up to 50%* of your outstanding balance.
- Negative impact on your credit
Before making this important decision, please Contact one of our Debt Consultants to explain our program. Our program may get you out of debt within a 12-36 month time period while settling up to 50%* of your Debt.
Settlement estimates of up to 50%are examples of past performance of settled accounts. Individual results may vary and are dependant on successful completion of program and ability to save funds.
Call us and schedule a no obligation interview with one of our financial counselors to determine what we can do to help in your situation.
|
 |
Complete this quick form and a
professional debt consultant will
contact you! There's no obligation and
all information is strictly confidential.
|
