Depending on your personal situation and whether you have already missed payments to your creditors, debt settlement programs may have a temporary negative impact on your credit score. Due to it being a separately regulated service, we do provide credit repair services as well
Debt resolution is generally for people with $10,000 or more in unsecured debt who want to reduce their total amount of debt. If you’re facing financial hardship and have more debt than you can pay off in the next two to four years, debt resolution may help to reduce your monthly payments and resolve your debts more quickly than you would on your own.
We only work with debts without collateral attached to them, also known as unsecured debts. Credit card debt, medical bills, car loans, Private student loans, and payday loans are all examples of unsecured debt. Debts with collateral attached, like mortgages are not eligible for our debt resolution program. We are also unable to assist with federal student loans.
Debt settlement reduces your balance. Your debt is negotiated down, and you pay less than you owe. The creditor forgives the remaining balance in a transaction called a settlement. Debt consolidation combines all of your debt into one loan with a single monthly payment, often at a reduced rate of interest. This typically requires a higher credit score for approval.
A friendly, dedicated debt expert will let you know all your options and the advantages/disadvantages of each – which will help you decide what’s best for you.
We charge no fees until you approve the settlement agreement and your debts are settled. There are no sign-up fees, no cancellation fees, and there’s absolutely no obligation – you’re in control. Once debts are settled, the average client usually pays a fee of 15-25% of the total debt enrolled as part of their monthly payment. And if we can’t settle your accounts, you don’t pay us. It’s that simple.
While programs can vary depending on your unique financial situation, the average debt resolution program lasts two to four years. Your program’s length will depend on a few factors, including how much money you deposit in your account every month. The more money you can add to your Dedicated Account, the quicker your debts can be resolved.
Making monthly payments to your Dedicated Account is an important part of Accredited Debt Relief’s resolution program; missing monthly payments can stall the process.
We handle every individual's situation with personal attention and each case is different. Please give us a call so we can get to understand your case and all of the details so we can put together a unique plan that suits you and your needs.
A Dedicated Account is generally an account that is used to save money for a larger purchase or specific goal. When participating in an FIRST US FINANCIALS Relief program, the money in your Dedicated Account will be used to pay off your resolved debts. Once you’re enrolled, our team will help you open an FDIC-insured Dedicated Account where your funds will be deposited.
You do! The reason for setting up this new account, rather than putting your monthly deposits into an existing bank account, is to keep those debt resolution funds separate from your other money. If you ever withdraw from the program, the remaining funds in your Dedicated Account, minus banking, third-party and earned debt resolution fees, are yours to keep.
We understand that life might throw you a financial curveball, and you may need to adjust your payment schedule if the unexpected happens. That’s perfectly okay, and we’re happy to work with you to make any needed adjustments. Be sure to contact our Client Success Team at least five days before your scheduled deposit date so that we can pause any scheduled electronic withdrawals.