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Debt Consolidation - Debt Settlement
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Frequently Asked Questions

Questions and Answers

Debt Settlement's FAQ

  • Who qualifies for this program? Anyone with at least $5,000 worth of unsecured debt that is past due on their bills qualifies for this program.
  • Does this hurt my credit?

    No. During the billing dispute process, the creditors cannot put any negative remarks on your credit report.

  • Do I have to pay my creditors and you too?

    No. You will make one payment into the trust account at Consumer Law Center.

  • Can I pay more and pay the debt off faster?

    Yes. We encourage you to pay more if you have the funds available.

  • What type of debts can I include?

    Credit cards, collection accounts, hospital bills, store cards, pay day loans (if they are in collections), judgements and most any other debt that is unsecured.

  • How do I get started?

    In order to begin, fill out the Debt Consolidation Evaluation form. A representative will contact you within 1 hour if you apply during office hours.

Debt Consolidation's FAQ

  • Is this a loan?

    No. The whole concept is designed for you to get out of debt; not further debt. This removes the temptation of using your credit cards in order to keep you from ending up with a loan and credit cards that have reached their limits.

  • What type of debt can I include?

    Only unsecured debt such as credit cards, personal loans, hospital bills, department store credit cards, old telephone and utility bills, gas cards and repossession loans can be included.

  • Will this affect my credit?

    We do not report to the credit bureaus. However, this largely depends upon the debt repayment option that you choose to participate in. Read what the inventor of your FICO® score, Fair Isaac Corporation, has to say on its' web page titled,

    "What's Not In Your Score" and see for yourself how credit counseling participation does not affect your FICO® score.

    Fair Isaac® and FICO® score are trademarks and/or registered trademarks of Fair Isaac Corporation

  • Can I still use my credit cards? Creditors don't want your debt to increase while you are in a debt repayment program. Therefore, your accounts may be frozen. You may, however, keep an account out of the program for emergency purposes.
  • What type of debt can I NOT include?

    Attorney Fees, traffic or court fines, pay day loans, judgments, garnishments, child support, alimony, mortgages, car loans or any other secured debts.

    Creditor examples: American Express • ATT-Universal • Bank of America • Capitol One • Chase • Discover • First Bankcard Center • First-USA • Fleet• Household Credit • Hurley State Bank • MBNA • Target • US Bank • Wachovia • Wells Fargo

  • Can I include business credit cards?

    No. Business credit cards are treated as secured debt by most creditors. Most creditors rely on your business financial statements in order to grant credit. Therefore, they do not allow you to include these in your program.

  • How do I get started?

    In order to begin, click here and fill out the form. A representative will contact you within 1 hour if you apply during office hours.

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