FAQ Clients Ask Affiliates
Do you contact all of my creditors once I start the program?
All of your creditors will be contacted when there will be enough money available for the settlement. If we call them any sooner, then that will pose some major problems, as if there will not be enough funds available, they will definitely get more aggressive and even decide to further on take action that will make things worse.
Do you start negotiating on my accounts right away?
We don’t do this in all the cases that we are confronted with. If the client’s accounts are already delinquent, then this can be true and also, if they have a big lump sum into their GCS account. In the beginning of the program, most of the clients will not have enough money to settle in and the accounts will also not have been delinquent long enough, so that a settlement offer or making a settlement offer would be possible.
Are you going to handle all the creditor calls I’m getting?
We cannot guarantee the fact that the creditors will stop calling you. But we do know that those phone calls are very unpleasant. To handle these calls, there are some things that you can do. One of them is to change your phone number. Second, you could check the caller ID and if you see that the number calling you is not familiar to you don’t pick up. After you will decide to step on into our program, your address will be changed to our address and this will defer the constant phone calls that you receive. There is a reason that we don’t want to speak with your creditors and that is because we plan on contacting them when they will have had enough money saved, so that the negotiation process can begin and this is made difficult when the clients will still be in touch with creditors. After you will decide to enroll, you will also be provided with a creditor call script and you will be able to use this as a reference when you will be stuck on the phone with a creditor.
What happens if I miss a payment?
This is not a good thing and you should always try to pay your debts in time so that our program will be successful. If there will be such a situation to deal with, you should definitely send news to our Client Service Department, so that the payment can be rescheduled.
What if I cannot make a payment?
If you are aware of the fact that you will not be able to make a payment, then you should definitely let the Client Service Department know about this with at least 5 days before the draft date, so that we can have that payment stopped. Nonetheless, our recommendation is that you should stick to you payment schedule and if you will be likely to miss a payment, you should find a way to make up for that in the following month. The program will be prolonged if the payments are missed.
How do I know that my creditors will settle with you?
We cannot guarantee that every one of your creditors will be willing to settle, however, we do have a very high settlement success rate in our office. As of May 2009, we have been able to settle over 2300 accounts (and growing!) at a 44.7% average.
What happens if you can’t settle my accounts?
There are very, very rare occasions where (for example) where we might have some difficulty locating where an account is, but this is generally handled by pulling a credit report. This would be one of the only reasons we would not be able to settle account. Aside from that, we are very successful at settling our clients‟ accounts.
How is this program going to affect my credit?
As you go delinquent on your accounts, your credit score will start to drop. However, once we start settling your accounts and your debt to income ratio starts to improve, you will notice your credit score start to go back up. We’ve even had clients who start receiving credit card offers halfway through their program.
What if I need to use the funds in my savings account for an emergency? Are there fees involved?
There are no fees involved if you need to withdraw money from your savings account. This account belongs to you and you may do with it what you like. However, withdrawing funds from you settlement savings account will extend your program and is not recommended.