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I can put my mistakes behind me
I'll approve the settlement tonight.
I know negotiating settlements for people who
can't pay what they owe has got to be a tough job.
But you have really helped me get to a position
where I can put my mistakes behind me and get on
with a brighter future. I wish I could say it
with the depth that it deserves, but at least
accept my most sincere THANK YOU!
Kent
Thank you very much!!!
I get ants in my pants eager to be completely debt free. Your program is just wonderful and the staff is diligent and kind. I would definitely recommend this service to whomever I know is having debt problems.
Thanks again!!
R. Smith
July 24, 2002
Superb
I am writing to let you know that I think the concept of your company and the situation that caused you to start the company in the first place is a superb idea.
Your customer service staff and everyone there has been very courteous and helpful. You have a professional but personable people working for your organization.
They know how to convey what the client needs most and still have empathy for each individual on a case by case basis.
October 22, 2002
Thought I could handle it myself
I was very disappointed in myself because I couldn’t get
myself out of debt. I called The Debt Solution a year ago
and should have signed up, but thought I could handle it
myself. I have been quite successful in my life. I took
on too much and the bills kept gradually overwhelming me.
I
am pleased with being able to put myself in their hands.
Thank
you,
Maurice
Marina Del Rey, CA
A
load off my mind
I started this program in March of
this year. I settled two of my USAA accounts at 29%. I was
a bit skeptical in the beginning but now I have proof that
it works. The Debt Solution kept it’s promise and delivered
what they said they would. I look forward to future settlements
and being out of debt. I feel that I’m getting
a load off of my mind.
T.C.
Florida
8/4/00
We're
relieved
Even
though I have a high income, we were unable to make progress
on our debts. All we were doing was making minimum payments.
We signed up for your program because it was a good solution.
Our creditors have been getting a high interest on our debt.
We've been making payments for so long we've paid back our
principal and then some. We're relieved to be getting out
of debt and would
recommend your program to others.
Mandora
When
I'm debt free
Before
I got involved with The Debt Solution, I spent much of my
time worrying if I had enough to pay my bills and buy food.
I enrolled with TDS because I wanted to get out of debt
and learn to manage my money. Your staff has been very helpful
and when I'm debt free I'm
looking forward to completing your Prosperity program.
Jerry
Goldsmith
It feels great
It
seemed all I was doing when I enrolled in your program was
just paying the bills. I was deep in debt and wanted to
pay a fair share to my creditors and eliminate my debt at
the same time. For the most part The Debt Solution has helped
me do that and it feels great to be getting out of debt.
Thanks!
Tomas W. Collins
It
feels good
When
I came on board with TDS I set a goal to get debt free.
Your company has kept it's promises and it feels good to
have creditors accepting payments at 40% or less. Everyone
at TDS has been extremely helpful, professional, courteous
and friendly and I thank you all for your warmth and help.
When I'm debt free I will be able to live the balance of
my "golden years" in a more serene manner, without
all the annoying, harassing and threatening phone calls
from 8am until 9pm.
Carol Wilkins |
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Debt Settlement Questions
What does The Debt Solution do?
We negotiate mutually agreeable debt settlements between our clients and their creditors one at a time. We do not make monthly payments unless they are part of a settlement agreement. Each account is usually settled in one lump sum.
How do the creditors actually get paid?
When a client decides that this is the best program for them, we set up a special "debt settlement account" at a federally insured bank, which is in the client's name. The sole purpose of this account is to house the money the client pays toward settling debt on a monthly basis. Once enough money is accumulated, we will use it to negotiate with the creditors one at a time. All payments to the creditors will be made from this account.
How do I pay for these settlements, how does it work?
We work out a monthly amount that each client can afford to pay. That amount is electronically debited from their personal bank account and deposited into their "settlement account" at a federally insured bank on the date(s) they work out with our Debt Consultants.
When the client has accumulated enough money to cover the settlement and our fee, we contact one of the creditors and make them an offer. Offers are submitted until both the client and the creditor agree on the amount. We then get the client's written or electronic approval on the total settlement (including fees). Upon receipt of the client approval, the bank will release the funds necessary to cover the total settlement (including fees). Once this settlement is paid, the client will begin the accumulation of funds in their settlement account and the process will repeat as money becomes available for the next settlement. We continue in this way until all of the accounts are settled.
It is important to note that we do not make any monthly payments to the creditors and we cannot pay for a settlement without our client's written or electronic approval.
How do the fees work?
We have the most comprehensive program at the lowest fees in the industry. Our performance based fee structure means we get paid based upon what we save.
We realize that each individual financial situation is different, and therefore we try to tailor our program and
fee structure to fit your situation. To get a fee quote for your situation, call (866) 863-5544, or
Click here to register for a free consultation.
What options do I have?
As a practical matter, there are only 5 choices that you have to deal with a serious debt problem.
- You can continue to struggle and pay what you can, always hoping for the best.
- You can apply for a debt consolidation loan. In our experience, however, if you are struggling with making your minimum payments, it is unlikely that you will qualify for this solution.
In order to qualify for a debt consolidation loan, you usually have to have good credit, a good debt-to-income ratio, and some asset to secure the loan (a house is the most common). Just being able to make the monthly payments on your cards does not signify good credit because you may have a high debt-to-income ratio. If a person with poor credit due to being overextended were to be able to get a debt consolidation loan, it would carry with it a higher than normal interest rate and would, consequently, not offer much of a savings. Additionally, with the loan usually tied to your home's equity, failure to repay could result in foreclosure on your home. When you are overburdened by credit, debt consolidation loans are rarely an option.
- Another possible option is a debt management program, commonly called "consumer credit counseling" (CCC). Here is how these programs work:
You sign on with the CCC agency and they submit a proposal to your creditors for a reduction in the interest rates. You would then pay a monthly payment to them and they would then distribute that monthly payment to your creditors. These programs generally take 5-7 years to complete.
CCC programs do not handle medical and not all creditors participate in the programs. Any account that has gone to a collection agency cannot be included into a CCC program. Generally, CCC programs have a certain list of creditors that they can and cannot work with. Some of your creditors may not be on every CCC program's list.
One of the key points about CCC programs is that you still pay 100% of the principal plus interest. When all costs are considered, it usually works out to be about the same as your current minimum payments.
- Your 4th option is bankruptcy
You should consult an attorney to get all of your questions answered regarding bankruptcy. In our experience, it is best for people to try other avenues to resolve their debt situations before considering bankruptcy. Bankruptcy will always be an option should no other solution work for you. Therefore, it is our recommendation that bankruptcy be the last possible resort. Bankruptcy will stay on your credit for up to 10 years and it could have a strong adverse effect on your credit during that time.
Besides being a devastating blow to your credit, a bankruptcy can also be a very stressful and embarrassing decision to continually have to explain to every potential lender. Additionally, a bankruptcy may affect your ability to get a job as many employers are pulling credit reports. While there is life after bankruptcy, it can be a very unpleasant one. One of the co-founders of The Debt Solution actually started this company because he had gone through personal bankruptcy several years ago. He had searched for another alternative but none existed.
- Happily, we have such a program today, Debt Settlement. The Debt Solution offers an alternative to bankruptcy in the hope of saving you from the same fate.
What happens to my creditors while I am on the program?
Instead of your money going to your creditors each month, we will transfer the money from your personal account over to your settlement account per the schedule you create with us. You will continue to accumulate money in the settlement account until you have the money for us to negotiate a settlement.
The whole idea is that instead of paying the minimum payment or less each month and falling further and further behind, you will take the money you can afford and use it for lump sum settlements with you creditors.
Will the creditors sue me? Will they garnish my wages?
While it is true that anytime someone falls behind on his or her payments the creditor has a right to sue, in our experience most creditors do not take this course of action. Most are willing to negotiate the amount owed to them. However, because there is a chance that a creditor may sue, we have made arrangements with a legal service to have a law office available to assist you with any legal issues arising from any debt we are negotiating.
Also, we can still settle your debt if you are sued, we just settle with the attorney rather than the original creditor. The legal program is in place to protect your rights and buy time for us to arrive at a settlement. It is important to note that The Debt Solution does not provide any legal services. We are associated with a legal service provider that is there to help make sure you get adequate legal representation in the event a creditor does take legal action.
Will the creditors start calling and harassing me?
Yes. As someone goes delinquent with their accounts, especially in the beginning, they will get creditor calls. However, we have developed steps that our clients can use that are effective in reducing and often eliminating phone calls from creditors
What happens to my credit?
If you are already behind on payments, or you might be shortly, your credit is already impaired - you have too much debt compared to your income. This is known as a high debt-to-income ratio. To be considered credit-worthy again, you must drastically reduce or eliminate your debt, thereby reducing your debt-to-income ratio.
Our primary thrust is to help our clients get out of debt as quickly as possible and to get firmly back on their financial feet. Credit, while a very important thing to have and maintain, is of secondary importance to getting your debt under control and becoming financially solvent. Most people think if they have stayed current on their payments then they have good credit. In cases where the debt is more than a person can afford, then their credit has been used up and they are no longer really credit worthy in the eyes of most lenders. At the end of our program, your debt-to-income ratio will be greatly improved and you will once again be able to build really good credit.
Sign Up Today!
If you are interested in getting out of debt, saving thousands in interest, and having your debts settled for pennies on the dollar, sign up today for our free personalized debt settlement consultation, with one of our certified debt consultants.
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