Common Questions

Unsure about how debt relief affects credit? Or how long it takes to resolve debts? Watch these videos to get answers that can help you make an informed decision.

How will it affect my credit?

While a debt consolidation or debt management plan (DMP) that reduces interest rates has little or no impact on personal credit, a debt resolution program that resolves accounts for less than the full balance typically does have a negative impact on credit. This is an important consideration if you're preparing to finance a home or auto in the near future. However, for the long-term health of credit, consumers should know that the amount of debt you carry (credit utilization) accounts for 30% of your credit score so it's credit-wise to reduce your debt load. Watch video above to learn more.

How does it work?

The goal of a debt resolution or hardship program is to combine multiple high interest bills into one lower affordable payment to provide breathing room each month. While both programs can help to lower payments by up to 50% or more, it's important to understand the credit, tax, and legal implications of each program. Watch video above to learn more.

How much does it cost?

Thanks to new consumer-friendly laws NO upfront fees may be charged by debt relief providers and NO fees whatsoever UNTIL debts are successfully reduced or resolved. Prior to 2010 debt relief providers were allowed to charge upfront fees to consumers who could least afford it. That's all changed now and it's good news for individuals and families facing overwhelming debts Watch video above to learn more.

Is this better than bankruptcy?

Bankruptcy is an important debt relief option and it's often the best course of action for consumers with overwhelming, unmanageable debt. However, with new laws that make it more difficult to qualify for bankruptcy, and the long-term impact bankruptcy can have on personal finances and credit – more and more consumers experiencing financial difficulties are choosing to pay off debts through a debt management or debt resolution program. Watch video above to learn more.

Which of my debts qualify for relief?

Almost ALL debts, other than a home or auto loan, DO qualify for relief or consolidation that can combine multiple high interest debts into one lower monthly payment. Bills that qualify for relief are considered "unsecured debts" not backed by collateral. Qualifying accounts include credit cards, store cards, balance transfer cards, medical bills, many personal loans, collection debt, and more. Watch video above to learn more.

Why should I trust you?

If any company promises to get you out of debt for "pennies on the dollar" or tries to charge an upfront fee for debt resolution services, steer clear. Thanks to new consumer-friendly laws, NO upfront fees may be charged for debt relief services and NO fees whatsoever UNTIL debts are successful reduced or resolved. Watch video above to learn more.

Get Your Financial House in Order

• See which debts qualify for relief
• See how much lower your payments could be
• Choose a plan that saves you the most

See Which of Your Debts Qualify