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Frequently Asked Questions
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Q. What are the benefits of a Debt Management Program?
A. You can have number o benefit such as consolidating multiple
of debts into one, can control your financial burdens, interest
rate will be less, lower monthly payment and more. You will
no more take risks of negotiating with the creditors to reduce
your interest and set up payment plans. You can have another
benefit of regaining account by which can escape from current
and stopping late or over limit fees.
Q. How do I get started this program?
A. There is a short and easy form has been given
on this website. Just fill out the form and start accessing
the services and other free guidelines by skilled counselors.
Q. How long will it take to complete the program?
A. If you follow the program then time will be mere factor
that in 60 months you can become debt free.
Q. Is my information/membership confidential?
A. It is undoubted that we keep all our clients’ information
in a strict confidential mode. Your membership and other information
will remain kept secret. As per our policy only the account
holder and authorized representative can access the account.
Q. How will your program affect my credit or credit
score?
A. A creditor may report to the credit reporting
agencies that you are working with a credit-counseling agency.
The impact on your credit largely depends on your future creditors.
Some creditors see credit counseling as negative and others
look at it as positive. However, the notation will not affect
your credit score, which many lenders use to determine creditworthiness.
Notations will be removed once you are done with the program.
While you are in the program, you are advised not to open
any new unsecured debt. If you plan to get a mortgage, refinance
your house, get a car loan, or get any other secured loans,
we recommend that you do so before joining our program.
Q. Can I still use credit cards once enrolled in
the program?
A. We advise our clients to not apply any credit cards while
enrolled in the program. If you want to get out of debt then
you should not incur new debt.
Q. Will my creditors still send me statements?
A. Your creditors will send you monthly statement regularly.
The statement will ensure the monthly payment by Debt Management
Program. Now you can realize the benefits in a debt management
program by evaluating the monthly statement sent by creditors.
Q. Can I make payments on my own, once I join the
program?
A. You are not eligible to make payments once you
join debt management program. Payments made directly to the
creditors could be viewed as a termination from our program
by the creditor and would likely result in an increase in
the interest rates. |
