Frequently Asked Questions

Q: What is Debt Consolidation?

A: A restructuring of current debt, under which new terms are negotiated, whereby in most cases payments are lowered and interest rates are reduced.

Q: Is Debt Consolidation a Loan?

A: NO - It is a Debt Repayment Program. We do not lend money.

Q: How will this plan effect my credit rating?

A: We do NOT report to any credit agencies. Only your creditors can report your actions to the credit bureaus. By making payments promptly most people may actually improve their credit rating. For more information on how this will not affect your credit score, please visit www.myfico.com

Q: How will I save money?

A: Monthly payments can be reduced, sometimes up to 50%. Through our expert knowledge and long-established contacts we utilize specialized industry information to negotiate with your creditors. With many creditors we are successful in significantly reducing or eliminating interest rates, late charges, administrative and bank fees.

Q: What kind of debt can I consolidate?

A: All unsecured debt can be included in our plan. This includes major credit cards, department store cards, gas cards, medical & hospital bills, and unsecured loans. Secured loans such as house payments and car loans CANNOT be consolidated since they have security behind them.

Q: Can I send more money if my situation changes?

A: Absolutely, you can always send in additional funds with your monthly payment and there is never a penalty for early repayment. This also enables you to get out of debt faster.

Q: How do I qualify?

A: You must have the desire to get your finances under control.
You do NOT have to be a home-owner.
You do NOT have to be delinquent in your payments.

Q: Can you help with my business debts?

A: This is determined on a case by case scenario. Similar to personal debts, most often we can negotiate with your creditors to arrive at a plan and terms satisfactory to all parties.