Frequently Asked Questions about Debt

Here are the answers to the most commonly asked questions about debt elimination.

What is debt elimination?

Debt elimination is a service that helps consumers reduce the total amount of their debt and get out of debt faster. Debt elimination comes in two forms: debt consolidation and debt settlement. With debt consolidation, you combine your many, high-interest debts into one, lower-interest loan. Your payments on this loan are then divided up among your creditors. Debt settlement is a service geared toward consumers with over $20,000 in debt. With this service, your debt elimination company negotiates with your creditors to reduce the amount of your debt, which you then pay off after making deposits into a designated account.

How much does debt elimination cost?

Debt elimination is usually available for a low monthly fee. Considering how much you will save in interest payments alone, debt elimination quickly pays for itself.

What effect will debt elimination have on my credit?

This will depend on the type of service you choose. Debt consolidation will not negatively impact your credit and can actually improve your credit score by reducing your level of indebtedness. Debt settlement, on the other hand, can have a temporary negative effect on your credit because it requires you to stop paying your creditors for a time. We also offer credit repair services to help you restore your credit after debt settlement.

Which type of debt elimination is right for me?

What type of debt elimination is right for you will depend on how much debt you have and what kind of debt it is. For people with multiple, high-interest debts, debt consolidation tends to work better because it combines your payments for convenience and also lowers your interest rates. For those with over $20,000 in debt, debt settlement usually works best because we negotiate with your creditors to reduce your debt to an amount that you can realistically pay back.

Who are you?

We are a debt solutions company with ten years of experience in the credit and debt industry. We have helped thousands of customers with their debt elimination, and we can help you, too. We offer credit counseling, debt management advice, credit repair, debt consolidation, and debt settlement services. Feel free to contact us if you have any more questions.