Coming to think of it, you would have 100s of questions when it comes to talking of Debt Settlement programs and Credit Repair Services. Why, you may even have questions on using our services. Though, the ideal way to go about it is by calling and speaking to us. Nevertheless, for your convenience, here are some Frequently Asked Questions that possibly will make life simpler for you.

Debt Settlement

1. What is Debt Settlement?

A: There are so many times you would have outstanding debts, which have the potential of damaging your credit rating. We will negotiate with your creditors and try to get your balance debts to 50% of the value. Eventually, this will help you in being debt free within a period of 3 years.

2. How do I start with this?

A: Remember, Debt Settlement does not mean, all your debts would be wiped off. We only promise negotiations with the creditors and getting your debts to be at 50% of the total value. At the end of the day, it still is your responsibility to pay back the debt settlement dues.

3. What are the remarks in my credit report?

A: Once you agree to the debt settlement amount, you would need to pay back the dues as agreed. Once you have paid back all the dues, your credit history would be marked with “Paid in full” or “Paid as Agreed”.

4. What happens until all the dues are repaid?

A: Let us assume you have got a debt settlement for 1 year from the bank. Your credit rating would still be negative during this period. It is only when you pay off the amount that you would get the “Paid as agreed” remark on your credit history.

Credit Repair

1. What is Credit Repair?

A: Irregular or no payments on your mortgage bills would surely hit your credit history bad. Living with a bad credit history is like walking on a thin rope, from which you could slip and fall down any moment. Take a Credit Repair solution, and you would find that the financial imbroglio you are in gets fixed with time.

2. How long does the credit repair process take?

A: Well, every individual’s credit is unique. Their default amounts you would find are so different from each other. Thus, it would not be fair to quote a time universally applied to everyone. Normally, it takes a time for 6 months to three years for the Credit Repair process to complete.

3. How much would I have to pay?

A: Credit repair solutions though can pinch your pockets. But compared to the higher interest rates you may have to pay because of your poor credit history, this money is well-worth it. The latter is sure to burn a big hole in your pocket in the long run. You would find that our credit service attorneys would charge you affordable fees for the service provided.

Loan Modification

1. What is a Loan Modification?

A: One thing you should know about your mortgage bill is – Your lenders are only interested in your repayments. They would want to do nothing with your home or your vehicle. Thus, if you land in a situation where you are not able to make payments regularly, speak to your bank. We are sure both of you would be able to work a permanent arrangement that is acceptable to both of you.

2. Why is my lender not co-operating?

A: Think about it – Someone owes you money, and later he tells you he wishes to enter into an arrangement where he could pay you lesser than what he owed you! Would you accept that? That is why lenders don’t react positively on the news of some kind of arrangement. This is where we step in and make a workable arrangement.

3. How much time does it take? If I have the time, can I do it myself?

A: First things, you can definitely do all of this yourself. But think about it – Why would you want to spend some time speaking to banks when we are there to do it for you? Secondly, you also need to consider the time factor. Unfortunately here, time is of essence, and every minute wasted by you, could reduce the chances of a favorable arrangement between you and your lender.

4. Is bankruptcy an alternative to save my home?

A: Yes and No. Yes because only 4% of them have been able to save their homes declaring bankruptcy. On the other hand, 96% of them have not been able to help their case at all. In essence thus, you would find that declaring bankruptcy is a lottery, which may not be able to permit you to save your homes.

This and many more – You would find being hunted down by a lot of questions when it comes to Credit Repair or Debt Settlement. Allow our experienced credit repair attorneys to answer your questions. As you spend some time with our attorneys, you would find that it would have been the best thing that could have happened to you.