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Frequently Asked Questions 1. What is Debt Consolidation? 2. Why are my creditors willing to do this? Creditors are willing to lower interest charges and monthly payments as a way to help the client avoid filing bankruptcy, or to avoid having to turn accounts over to a collection agency. 3. How will this affect my credit? Debt consolidation is the often regarded as the best way to become free of debt. Future creditors will view enrollment in a consolidation program as your taking responsibility by making regular monthly payments to meet your debt obligations. 4. What type of debt can be handled through your service? We can successfully consolidate all types of unsecured debt, such as credit cards, store cards, personal loans, medical accounts, judgements, student loans, attorney fees, etc. IRS taxes, auto loans, and mortgages cannot be included. 5. Is declaring bankruptcy a good option? Bankruptcy should only be considered as a last straw. It can have an adverse affect on your credit report for up to 10 years. It may also harm any potential relationships with future creditors. 6. How long will it take to get out of debt? With the average client debts can be resolved in approximately 3 years or less. Typically 2 to 3 years, though it varies from case to case. |