Upon enrolling, our Negotiations Team will contact your creditors and begin the settlement process in an effort to resolve your debts for less than what is currently owed. Below are some additional items you should be aware of as you begin your journey in becoming debt free.
In the First Few Months
You will receive a Welcome Call
✔ Our Customer Loyalty Group will be your point of contact throughout your program. You will hear from them as soon as you enroll to complete your welcome call. This will confirm your information, and make sure you have a good understanding of how the program works.
You will receive a Welcome Package
✔ This will come via email shortly after your enrollment and contain important program information and frequently asked questions.
You will receive Courtesy Calls
✔ We will contact you throughout the start of your program just to check on you and see how you are doing. We will confirm your draft and see if you have anything new to update.
You may begin to receive Creditors Calls
✔ Some creditors will try and contact you on a daily basis using an automated dialer. As long as you do not answer you will probably not receive a message. If you answer, it will connect you to a live person. If you prefer, you can chose not to answer.
You will receive Collection Notices
✔ You will receive collection notices on a regular basis. They will write scare tactics and threats to try to get you to call them to make a payment. We know you are delinquent, so you do not have to keep us updated with general delinquent notices.
Your Debt Balances will Increase
✔ Your accounts will continue to accrue interest and late fees until we reach settlement. We take this in to account when we give you the estimated cost of your program.
Your Accounts will be Delinquent
✔ Your accounts will be delinquent until we reach a settlement. Your accounts are usually not eligible for settlement until they are delinquent. Delinquency times vary.
After the Third Month
You will see Settlements Reached at Various Times
✔ You may see your first settlement reached within 4-7 months of the program. Then we will continue settling each account individually, one or more at a time throughout your program as your funds accumulate and the creditors accept settlement.
Your Credit Rating will be Impacted
✔ Your creditors may report delinquency to your credit bureaus which does negatively impact your credit rating. Once we settle the debt in full, they will be reported as a zero dollar balance, settled in full and this may improve your credit rating. It may take up to 90 days after the settlement is complete before it is reported as $0 balance.
You may be asked for Additional Funds
✔ As we are actively negotiating, we may contact you to see if you can add funds. Some settlements are really great and we do not want to miss the opportunity, so we may ask if you can add funds in order to accept it. We want to see you graduate the program as quickly as possible and the best way to speed up your program length is by adding additional funds. If you wish to not receive requests for additional funds, then please advise our Customer Loyalty Group.