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Read more... credit card debt settlement lettersCredit Card Debt Does this explain you? Based on your personal financial situation and your total amount of unsecured debt, your debt specialist will explain the most effective Debt Settlement program for you to eliminate your debt in 12-36 months. Once your initial phone consultation has ended, you will be sent an enrollment packet that you will need to complete and e-mail back to us in order for your enrollment process to be completed. Once your packet is returned, you will be assigned to a customer care representative that will be your contact person throughout your entire enrollment period. This person will be your “go to” person to help stop the collection phone calls and letters. Your customer care representative is your stillness of mind as they work their way between you and your creditors. We do our best to shield you from being harassed by collectors. Once you are officially enrolled in the program, We will send “engagement letters” to each of your original creditors explaining that you are participating in a Debt Settlement program. Your credit card debt is in excess of $7500, can no longer make lowest amount monthly payments and don't have enough credit for a consolidation loan? If it does, then you've come to the right place for help! If your currently receiving collection letters and harassing phone calls from your creditors and you want it all to stop. Look no further! Our team is credit card Debt Settlement services only extend to those of you who have a desire to pay back your debt but need help in doing so, or if your think about filling for bankruptcy; we can help. Call one of our highly trained debt specialists to see how we can help you eliminate your credit card debt. They know your state and are ready to go to work for you today. Our credit card Debt Settlement plan involves negotiating a payoff for each credit card you have, and then, setting up a payoff plan between 12 and 36 months to eliminate your credit card debt. This is what we do every day for our clients, so why don't you become one today. See our settlement results! We offer you the most efficient approach obtainable in dealing with substantial amounts of outstanding credit card debt through professional debt concession with your creditors. Our Debt Settlement programs are the single most cost-effective means to becoming free of your credit card debt within a reasonable period of time. Debt Settlement is a proven process of negotiating with your creditors to settle your debt at a substantially reduced amount. On average, 40% to 60% of your unsecured debt is eliminated as long as you stay enrolled in our settlement program. Who qualifies for our services? In most cases it's someone who has some type of need such as Anyone who has/had an illness, disability, divorce, loss of job, or a reduction in pay and is having difficulty making costs. Anyone that has credit card debt in excess of $7,500 with high interest rates. Anyone looking to avoid bankruptcy as a means to eliminate debt. Anyone who is having trouble staying current or is delinquent on their accounts. Once you are in contact with a debt specialist, you will be asked several explicit questions regarding your credit card debt and other unsecured debts that you wish to settle. We will also send “cease and desist” letters to third party creditors and collection agencies in an effort to eliminate harassing collection calls. You will be shielded from creditors and collection action as long as you are enrolled and following the procedures of our Debt Settlement program. You will create a separate bank account in your name where you will make monthly payment amounts. These monthly payment amounts are determined based upon your personal financial situation and how much you are able to contribute on a monthly basis. The monthly payments that you deposit into this account are the duty that will be applied to your final settlement amounts. At all times, you are in control over your separate bank account. Once this account reaches a predetermined amount, you will be instructed to write a check to pay off one creditor at a time. Will I owe money to the IRS for my reduced settlement? Creditors are required to report canceled debts exceeding $600 to the IRS, and you are supposed to report the same as income on your annual tax return. However, the IRS permits you to write off any "income" from canceled debts up to the amount by which you were "Insolvent" at the time. Therefore, unless you have a positive net worth, then you ordinarily will not be obligated to pay taxes on the forgiven amounts. Additionally, if you do not qualify as insolvent, non-principal amounts such as fees accumulated on the account may be deducted from the amount reported. Refer to: www.IRS.gov Publication 908. Note: This should not be considered tax advice. You should consult a tax advisor for advice specific to your situation. How will this affect my credit? Your credit rating is largely determined by two factors- your payment history and the amount of debt you have or debt to income ratio. Any debt management program will affect your credit in the beginning. While in a Debt Settlement program, you will receive late marks on your credit, as you are not making regular payments to your creditors. However, as you begin to pay off the accounts and obtain zero balances, you will ultimately lower your debt to income ratio, and therefore, improve that specific portion of your credit score. As months pass, any derogatory history has less and less bearing on the credit score. Some lenders believe that after 12 months, the accounts are given very little consideration. It appears, that provided all other debts are paid in a timely manner (house, car, other accounts kept current), the effects of the settlement process are temporary. Remember: if you are considering chapter 7 & 13 insolvency, it will stay on your report for 10 years. No matter which direction you choose in getting out of debt, you are looking at years of repayment. Do you have a guarantee? If we are unable to settle an enrolled account, we will refund to customer the service fee for that particular account.
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