877-292-DEBT
Fresh Start Financial
 
Debt Help Debt Consolidation
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877-292-DEBT (3328)1-877-292-DEBT
 
 
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Debt Settlement
could be Your Answer
 
check Lower Your Monthly Payments Immediately
check Reduce Your Debt up to 40-60%
check Make One Simple Monthly Payment
check Become Debt Free in 12-36 months
check No Credit Check
check Home Ownership Not Required
check Avoid Bankruptcy
 
 

Avoid Bankruptcy

Bankruptcy is not your only option! Our goal is to help you determine the right course of action for you to take. We will connect you with a debt settlement company today that will help you avoid filing for bankruptcy protection.

Debt Relief

Are your finances spiraling out of control? Get the information you need today to stop harassing creditor’s phone calls. Total Debt Relief provides a matching service to connect you with pre-screened Debt Settlement Professionals

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How do the creditors get paid?
Once you are enrolled in the program, we'll set up a sort of savings account in your name, at a federally insured bank. This account will store funds you deposit each month, until we negotiate a single lump sum payment, once sufficient funds are accumulated. We negotiate with each creditor one at a time.

Note that YOU are in control of this process; we will contact you with the settlement we've negotiated and funds are only released with your permission. We will then repeat the process for each creditor until all are complete. We find we negotiate the best settlements by paying in one lump sum, and therefore never make monthly payments.

Will the creditors start calling or keep calling?
Yes, but most will not. Usually the calls will cease after the creditor receives notice from us. The majority of creditors are cooperative and will update your records to indicate you are participating in a debt management plan. Your Debt Counselor will explain how various creditors are handled.

What will happen to my credit?
If you're already 30 days or more behind, your credit is already damaged. In addition, many confuse credit "ability" with credit "score". Credit ability refers to your ability to obtain financing. If you already carry too much debt compared to your income, your credit ability is impaired even if your credit score is perfect. If that's your situation, the next step to restore your credit ability is to become debt free.

Our goal is to provide you the relief you deserve, in the short term, but also to help you change direction and restore financial stability.

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1) Q: How will the debt settlement process affect my credit score?

A: If you've been paying your bills on time and have an excellent credit score, than the debt settlement process will have a small negative impact on your credit. Keep in mind, debt settlement is an alternative to bankruptcy.

2) Q: What should I do when debt collectors start calling?

A: Because the debt settlement process requires you to stop paying creditors directly, receiving calls from debt collectors is inevitable. So to avoid dealing with harassing calls from third party collectors you will need to send a copy of Fresh Start Financial’s “Cease and Desist” letter to them by CERTIFIED MAIL. As soon as the third party collector receives this letter they are no longer allowed to contact you under federal law. You will have the option to sue for FDCPA violations if the collection harassment persists.

3) Q: How much does the debt settlement service cost?

A: Fresh Start's fees come from the money you already owe to creditors, so you won't have to write out a separate check to pay for the debt relief services. In most cases, and depending on the company, they will charge a percentage of your total debt and sometimes a monthly service fee. Once enrolled into the settlement program, all fees and payments are included with your new monthly payment.

4) Q: Should I refinance my home with a debt consolidation loan to pay off the credit cards?

A: We encourage you to thoroughly investigate all of your options. Keep in mind that when you refinance your home with a debt consolidation loan to pay off your debts, you are then shifting unsecured debt into secured debt. This puts your home at risk should you not be able to make the payments. The debt settlement service allows you to reduce your debt without risking your home.

5) Q: When should I stop using my credit cards?

A: Once you have enrolled into debt settlement program and have stopped making payments to your creditors, it is recommended that you stop using those cards immediately. Those accounts will eventually be closed.

6) Q: Is bankruptcy a better alternative to debt settlement?

A: Possibly, depending on your circumstances. However in most cases it is not because bankruptcy has a long term negative impact on your credit worthiness and can be a demoralizing process. In addition, the new bankruptcy laws make it almost impossible to put credit card debt into a bankruptcy filing. Bankruptcy is a huge step with implications that will last for many years, so check it out with caution. We do not give legal advice so if you are considering bankruptcy you should consult with a licensed bankruptcy attorney.

7) Q: Do I have to enroll all of my credit cards?

A: No, you can choose the cards that you want to enroll. However, you should be aware of the following: Once a card has been enrolled into the service the credit card company will cancel that card and close the account. If you have multiple cards from the same lending institution, the lending institution will most likely cancel the others. If you want to keep a credit card open, it is best not to enroll that account related to an account into the program.

8) Q: Will I owe money to the IRS for my reduced debt amount?

A: The IRS permits consumers to write off any "income" from canceled debts up to the amount by which they were "insolvent" at the time. Therefore, unless you have a positive net worth you ordinarily are not obligated to pay taxes on forgiven debt amounts. Additionally, if you do not qualify as insolvent, non-principal amounts such as fees accumulated on the account may be deducted from the amount reported. Consult your personal tax advisor for advice specific to your tax situation. Visit IRS.gov for more information.

9) Q: When will my creditors be paid their settlement?

A: Fresh Start's debt arbitration negotiators manage all negotiations and financial transactions on your behalf with your creditors. We can not say for certain when those negotiations will be complete. Most cases are resolved starting thereafter 12 months given there is enough funds to pay out the settlement

Please Contact Us at 877-292-DEBT with any
additional questions - We're happy to Help!

 

 

 
bankruptcy alternative