What is unsecured
debt?
Unsecured debt is debt for which a creditor holds no collateral,
such as credit cards, department store cards, medical bills
etc.
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When is my first payment
due?
When you enroll in a credit counseling program, you can pick
the payment date that is best for you! You may choose any
day from the 1st to the 27th of every month, but you must
choose a payment date within 30 days of enrollment for your
first payment date.
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Can I still use my
credit cards?
The creditors are told you have a sincere desire to get out
of debt and ask them to help. Creditors usually offer concessions
with interest rate, payment, etc., as a result the accounts
included in your debt management plan are frozen or closed
until you are debt free.
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What if I need a credit
card for travel or emergencies? Do I have to put all of my
creditors on the program?
No, it is entirely up to you which accounts you put in the
program. We know of many clients that need to keep a credit
card for travel and other purposes.
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Can you help if I
am being charged late fees?
Most creditors will stop charging late & over limit fees
once you enroll in our affiliate’s program.
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What if I am past
due on my accounts?
No problem. Creditors just want to be paid. Most creditors
will bring your accounts current, stop late and over limit
fees, stop collection calls and stop or reduce interest. Most
creditors will also Re-Age your account (bring it to a current
status, showing no behind payments are due).
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Should I get a loan
instead?
We don't recommend it as loans are what got you into trouble
in the first place. Most unsecured loans have high interest,
and if you get a home equity loan you are now securing your
credit cards with your home.
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Will I continue to
get phone calls and collection letters from my creditors?
Most creditors will stop collection activity once they receive
the first payment.
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Is this confidential?
Absolutely. We never have and never will sell your name or
address to any party for any reason.
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Must I remain on
the program until I am debt free?
No. You are only enrolled on our affiliate’s program
for as long as you want to be. You may terminate the plan
at any time for any reason.
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How long does it
take to get started on the Program?
As soon as you begin the enrollment process with one of our
representatives.
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Will a Credit Counseling
Program also help with my overall monthly budget?
Yes, our affiliate’s credit counseling program will
help you to adjust your monthly expenses and formulate a monthly
budget. All of your unsecured debts can be paid from automatic
deductions from your checking or savings accounts on the day
that you choose. By consolidating your payment dates to one
day, you will be able to plan a more efficient and effective
monthly budget.
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What information
should I have on hand in order to get started?
You will need all of your creditors names, phone numbers,
account numbers, balances, interest rates and required minimum
monthly payments for each account. It is a good idea to gather
your most recent statements. All information must be accurate
and current in order for us to process your application. If
information is inaccurate then it may be difficult to properly
analyze your financial situation.
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