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We have always been strong advocates for banning advance fees. When performed ethically and correctly, Debt Settlement is a great alternative to Bankruptcy. Consumer Debt Help Association recognizing the failed model of the upfront fee companies and certain attorney models, in its commitment to put consumers first has not charged upfront fees to settle debt and all the while, still providing our clients with unbeatable customer service and great settlements. It has been law since October of 2010 but Consumer Debt Help Association has been doing it this way since the day it opened its doors in 2009.

Q How does your service work?

We help consumers who are experiencing financial difficulty. Our program is perfect for those who wish to take care of their delinquent accounts but lack the financial means necessary to pay them in full and want to avoid Bankruptcy. We negotiate directly with your creditors to achieve a reduced settlement on the particular accounts that you specify. The goal is to help you settle your delinquent accounts for significantly less, creating a more manageable financial situation so that you can pursue your other financial goals.

Q What fee(s) can I expect for your service?

A fee is only collected by us from your dedicated savings account at the time of settlement and only after the creditor receives the first payment on the settlement of that account.  We simply earn a fee based on our performance, which is fully disclosed in your initial enrollment agreement and again at the time of settlement. Again, our performance fee is not earned unless we successfully settle each and every account separately and the first payment is made to the creditor on that account. Certain states have different fee restrictions, please contact one of our representatives to find out the exact fee amount in your state.

Q Will the creditors offer me settlements directly?

Most likely, yes. Since Consumer Debt Help Association works with these creditors and collection agencies everyday we build relationships with the collectors and this may help us obtain lower settlements than you can obtain on your own. We are here to work in your best interest and the collectors job is to collect the most they can for the banks. Since all we do is negotiate debt everyday we are aware of the different methods that these creditors try and use to collect the most that they can and we work very hard to obtain the lowest possible settlements. We also require the creditor’s send letters directly to us outlining the settlement before a payment is made to them so that the payments will be credited correctly and not just go towards the balance on the account.

Q How much money will be needed to save in order to settle clients debt?

This is different in each of our clients situations since every creditor has different guidelines and different timetables on when settlements are available and for when certain percentages can be obtained. In some cases Consumer Debt Help Association starts negotiating on accounts when a client has at least 10% of the credit card balance, this percent is not a typical settlement but in some cases creditors will take this amount as satisfaction of debt.

Q What types of debts can be settled?

We can attempt to settle any type of unsecured account. Unsecured represents any account that you have that is not secured with collateral or lien. Such accounts being; credit cards, past due medical bills, lines of credit, personal loans, collection accounts, and deficiency balances on repossessed cars or even deficiency balances on foreclosures.

Q How will my credit be affected?

Anything but making at least the minimum payments on your credit accounts will have a negative impact on your credit. Since the accounts that we settle have to be delinquent; consumer’s credit scores will be affected by participating in our debt negotiation program. Most consumers looking into debt relief are looking to take care of a debt issue and the negative affect on their credit score during this process in unavoidable. This program is for people who are struggling to keep up or who have already fallen behind, if someone has the ability to pay their creditors on time and keep the accounts current then this program may not be the best option for them.

Q Will I still receive harassing phone calls from my creditors?

Probably; by law your creditors have a right to contact you for an owed debt. In most cases, creditors and collectors only way to collect is to call or write. This can become bothersome. Some negotiation companies send letters, such as Cease & Desist letters, to try and stop the calls, some companies just tell you to ignore the calls and dont answer. Cease & Desist letters letters will be sent on your behalf from Consumer Debt Help Association to try and ease the stress of aggressive collectors. The Cease & Desist letters will direct the creditors to continue to send all correspondence through mail and to contact our office directly by phone instead of calling you directly. Not every creditor will abide by the Cease & Desist letters but there are laws in place that protect you under the FDCPA, we will walk you through your rights.

Q Who is holding my money while I’m waiting on a settlement?

Your funds will be held in a dedicated savings account that is opened in your name and is FDIC insured. You will own these funds and have full control over them until they are used for settlements. Consumer Debt Help Association recommends the services provided by Global Client Solutions for this dedicated savings account.