Debt Consolidation FAQ
American Debt Foundation
http://www.americandebtfoundation.com
To help you
with the many questions you may have regarding debt consolidation we
have put together this list of frequently asked questions.
If your question
is not answered here please feel free to
contact us.
Q: Is Debt
Consolidation Expensive?
A: No. A small Debt Management
Fee is added to your monthly payment. With our Debt Management Fee
included, your monthly obligation is usually less than what you are
currently paying. There are no upfront fees, and the Attorney
Representation is included.
Q: Do I Have To
Give Up All Of My Credit Cards?
A: No. Unlike many of the Credit Counseling Services available today,
Debt Relievers will consolidate only the debts you ask us to.
Q: Why Would My
Creditor's Agree To Drop Interest Rates When They Are Getting 20%
Average From Me?
A: Your creditors are willing to work with us because of the tremendous
amount of debt which exists today. We have established excellent
relationships with all of the major creditors. So they are happy to work
with us, because we provide people with a way to pay what they owe,
instead of declaring Bankruptcy.
Q: Will Debt
Consolidation Damage My Credit?
A: If you are delinquent on your accounts now, we can get your creditors
to re-age your accounts and show them current. If you pay your bills on
time, but have too much credit, and you are not getting ahead by making
minimum payments, by reducing your debt to income ratio, you will
improve your credit.
Q: Is Debt
Consolidation Similar To Bankruptcy?
A: Absolutely Not!!! Debt
consolidation is for people who want to pay what they owe and have
the ability to obtain more credit in the future. Bankruptcy is designed
to absolve you of all your obligations and results in long term negative
effects on your credit status.
Q: Why Should I
use Debt Relievers Instead of a Nonprofit Organization?
A: Nonprofit debt consolidators
are paid by the creditors and impose budget requirements on you. In most
cases, they will not allow you to keep any credit cards, and they report
to the Credit Bureaus. This is a conflict of interest. At Debt
Relievers, we work for our clients.
Q: Can Debt
Relievers, Inc. Repair My Credit?
A: Debt Relievers is not a credit restoration service. However, by
reducing your debt to income ratio your credit rating will improve over
time if it has been damaged before. Debt Relievers takes every
precaution to minimize any damage to your credit as a result of
debt consolidation.
American Debt
Foundation
http://www.americandebtfoundation.com