What are the warning signs that I am in too much debt?

It is always a good idea to create a repayment plan before you start receiving harassing collection calls. But how would you understand when to consolidate your debts? There are certain warning signs that alert you early enough about the upcoming problems. If you suffer from any of these, please click here or give us a call TODAY!

* You have been charging to credit cards for essential expenses like food, water, and other daily needs
* Your have no savings
* You are struggling to make even the minimum payments on your cards each month .
* You are afraid of missing payments in the near future.
* You are overlimit or close to it
* You have too many credit cards (5 or more)
* You are unsure of how much you owe your creditor.
* You have contemplated bankruptcy

After filling out the form, how long will it take you to contact me?

We promise to call you within 24-48 hours of receiving your application.

Will you be able to help me if I am late in my payments or not paying at all?

Absolutely. We can help you regardless of whether or not you are falling behind with your payments or not paying at all. In fact, our services are specially designed to assist those who have missed payments already. If you haven't missed payments yet, but are worried about missing them shortly, our programs will help keep you from damaging your credit. If you are already late, the damage caused by the late marks will be healed through the credit counseling program when you begin making payments again.

How can we check whether the account is with the creditor or the collection agency?

If you are not sure of who is holding your accounts at present, your credit report is the best place to look to answer your question. Credit reports show all your account details along with the owner of the account. It also lists the contact information for your creditors or collectors. If you still do not have a copy of your credit report, please contact a credit bureau below to get one today.

http://www.experian.com
http://www.transunion.com
http://www.equifax.com

How is my credit affected during credit counseling?

Your FICO score if NOT affected in credit counseling.

How is my credit affected during debt settlement (arbitration)?

If you have revolving debt that exceeds your income significantly, you are probably already aware that your credit score is impugned. Furthermore, if you are behind on payments, your payment history is negatively effected. While we cannot control the way your creditors or the credit bureaus post remarks to your credit profile, please remember that your credit score should reflect your credit worthiness. If you have accrued substantial debt, your credit rating does not adequately reflect your financial capabilities. Our goal is to settle and resolve your debt in the most efficient manner and within your capabilities. While we do not attempt to remove derogatory credit remarks or directly cause derogatory remarks to be removed, you are more than welcome to consult a reputable credit repair agency after the completion of the program to help resolve credit-reporting issues.

Can you guarantee settlements?

While we will submit the appropriate information to each creditor to highlight your financial capabilities, FAD and its affiliates cannot guarantee the results of any settlement agreements until final settlement offers have been reached and accepted by all applicable parties.

Will enrolling in your debt settlement program preclude me from obtaining new credit?

Absolutely not. However, please be aware that you may and should only obtain new credit for necessities of life or for allowable expenses.

What happens to my creditors while I am on the debt settlement program?

Even though we cannot advise you to stop paying your creditors, you must evaluate your cash flow and net cash flow and decide whether or not it can adequately support your debt obligations. If it cannot, we may advise you that your income, in relation to your schedule of expenses, is presently insufficient to adequately resolve your debt and that borrowing money from other creditors to pay revolving debt may be undesirable. If you choose the debt settlement program, we will communicate your intentions and desire for repayment of debt, along with an individualized detailed financial report, immediately to your respective creditors. Based on their acknowledgements, we will modify or continue the program as scheduled.

How do the creditors actually get paid in debt settlement?

If a client qualifies for our debt settlement program, they may choose to set-up a "debt settlement account" and deposit funds as previously noted to the creditors. Once an agreement is issued by the creditors and accepted by the client, the account's established funds could be used for disbursement of payment by the client.

What kind of debt can be included in the program?

Unsecured debt is when a creditor holds no collateral. For example, an unsecured debt is usually in the form of: credit cards, department store cards, medical bills, and gas cards. No form of collateral such as a home or car was utilized to secure the "loan" for services rendered or goods received. With a secured loan, and as a precaution against "default" (non payment) what is used as "collateral" for the loan could be liquidated.