Who can apply for this program?
This program is for people who are behind on their payments, making minimal payments and gaining high interest charges, afraid to purchase new assets due to current financial condition and struggling hard to pay off their debts. Nevertheless, people unable to cope up with monthly payments, and want to remove the name of debt from their life may enrol for the program. People with minimal income, struggling job, high expenditure due to medical bills and without employment can also be part of this program.

How can I reach you people?
It’s very simple! All you need to do is Call us at          866-453-3821          and provide our executive with your complete details. The information provided by you will help us in processing your information to our debt consulting department, composed of highly experienced financial consultants, who will analyze your current financial situation and reply you with all the possible options for complete debts solution.

What is the procedure of your company for debt settle?
Our expert team will create a chart of your income and expenses as well as provide you with detailed information on monthly instalments for each client, including the available debt amount. Once you confirm the chart suggested by the experts and start the debt removal action plan by adding the amount every month to your settlement account, we would be able to determine the period of months you will be part the program. The moment your account reaches the score where we can raise an offer to creditors to settle the debts, we shall forward the information to our negotiation department. Our negotiation department will follow a three way recorded conversation procedure with all the three parties’ i.e you, us and the creditor. You can remove your debts in two simple ways, either pay them in a single shot or you can setup an extended period of time. We will settle each account till you are completely debt free!
 

Why should I not file bankruptcy as a solution?
In-order to gain a better financial position and better wealth for yourself and family, you should never opt for bankruptcy. When you have dozens of options for debt removal and debt settlements, you can always choose one of these options. Not only that but filing bankruptcy will not solve your current and future financial condition. Complicated is the situation for people who are thinking to file for Chapter 7, because due to several complaints from banks and financial institution current Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 has transformed into more difficult task for people who think filing bankruptcy as the best option. Further if you think that adding Chapter 13 being another option, you may have to pay back a portion of your debt under the supervision of the court. Regardless of filing for bankruptcy under Chapter 7 or Chapter 13, will give you long term negative effects on your credit history and public record for next 10 years. With these negative effects it would be very difficult for people who are planning to apply for home loans, rent a house, future credit, purchase vehicle etc
 

Would entering into debt removal program affect my credit score?
Entering into a debt removal program will give you negative effects to your credit score. Your current credit profile can define how much would debt program will effect. But, if your account is already in a deteriorating condition due to unpaid accounts, then debt removal is the best option to settle all the unpaid balances. If you are holding a good credit profile then debt programs will have impermanent effect. However, creditors will be presenting your account as ‘past due’, ‘charged off’ or ‘in collection’ till the debts are settled. There are many factors that effect your credit profile, like your debt amount, balance to limit ratio, history of settlements, duration of credit profile, and type of accounts. With the help of our debt removal program, you can settle all the accounts and enjoy zero balance debt free account. Thus, if you feel entering into debt program may affect your credit score, let us inform after all your debts are cleared, your current or previous accounts payment history will gain you high credit score. Apart from that, your debt amount and balance to ratios will also benefit your credit score.
 

Would I be able to use my remaining balance in credit cards?
We are sorry to inform that after entering into the program all your services will be deactivated. The reason why we restrict the usage further after entering the debt removal program is we want you to be absolutely debt free and not to increase your liability. Cards not presented in the program should be responsibly used during emergency purposes only.
 

What are your fees for the program?
Removedebtonline is customer centric company which believes in providing maximum benefits to its customers. We have been in this industry for a period at a leading position for providing immediate and beneficial results to our customers. We understand that already being buried under the debt, it will be very difficult for our customers to gain additional charges from us, so for being a part of the program we charge nominal fees of 14% on the amount of debt incurred by you. Initially, you are requested to deposit one or two instalments for first two months, thereafter you may pay the remaining amount of fees in regular monthly instalment. There are companies in the market which show themselves as ‘non-profit’ and guarantee to provide services for free but lot of companies have lost their IRS non-profit tax status due to abuses of their ‘non-profit’ status. Moreover, we are open about our fees and need written approval from you before entering the program.
 

How am I suppose to manage if creditor’s take legal actions against me?
We have been in this industry for a while and our experience says that threatening of lawsuits for recovery of money is a normal tactics used by insistent creditors or financial institutions. In fact, taking legal action and filing lawsuit takes lot of time and money which rarely any creditor would like to spend on. Moreover, such creditors and financial institutions eagerly agree for negotiating the settlement. As of course it is more cost beneficial for any creditor to settle the account rather than taking it to the court. They very well understand that if they will be pressurizing and persisting, then you can file bankruptcy by which they receive nothing.
 

Can you stop creditors from contacting me?
You may be receiving calls in-response to your non-payment or minimal payment of your debts but these calls will end in due course. Moreover, we will try our level best to help you from getting rid of these harassing calls. There are many rights and protection under The Fair Debt Collection Practice Act (FDCPA), which would be explained to you in the program with complete information.
 

Can you also help me out with credit repair?
No, we do not provide credit repair services. We are dedicated to provide complete debt removal solution only. Basically, your credit profile will carry the negative items as imposed by the credit bureaus. Once you have enrolled in the program, all your accounts would be settled one after one to regain your score lost due to debt accounts. In due course your credit profile will improve as your debt balance will reduce to zero and ultimately your paid accounts will gain you additional score. Thus, our program is highly beneficial for those who want to build a solid credit profile.
 

Would my wages be garnished?
It has been observed that it’s a common tactics of the aggressive creditors and financial institutions for payment recovery to threaten about wages garnishment. They may sound as if it’s a immediate action that they are planning to take against you within your next payment date. This is all false; wage garnishment is a lengthy process which takes enough money and time for lawsuit and obtains judgment. Moreover, all these actions can be easily avoided if you are willing to work with your creditors.
 

Can I process debt negotiation on my own?
Surely you can. You really feel that you can negotiate your debts with your creditors on your own. Can you defend them, even after being buried in the debt. Apart from that, the debt removal process will also extend as you have to negotiate with each and every client and creditors. Creditors and financial institutions always welcome innocent customers to settle their dues as they very well know that such customers do not have idea about what they are doing. Whereas, removedebtonline has expert team of debt negotiators who are having extensive training, holding strong knowledge of federal laws, well versed with credit finance practices, and owned the art of negotiations. Moreover being in this market since a period of time, we have well working relationship with your creditors that helps us gain best beneficial settlement for you. This saves your time, energy and money instead of running after your creditors and negotiating for settlement.
 

How much would be the tax liability?
Our debt consulting specialist will provide you with the correct answer for the same. Basically your tax advisor or debt specialist can only explain you in detail about the same. Under the clause of Publication 908 from the IRS allows individuals to exclude the remaining debt from their income via ‘insolvency exception’. Exception states the person to be insolvent when, and to extent, the liabilities exceed the fair market value of all your properties and assets. Moreover, your creditor may provide you with a form 1099-C for cancelled or settled debt exceeding $600 that may be required to present to the IRS. This will be considered as income in your annual tax income.
 

Debt Settlement Program – Meaning
Due to insufficient funds or incapability of earning or any reason because of which consumers as well as businesses are unable to pay off their debts, removedebtsonline helps them to settle their debts by making necessary negotiations with their creditors for an average settlement upto 40 percentage. There are several types of debt condition under which you can enrol into the debt settlement program, like, repossessions, personal loans, charge off accounts, collections accounts, any unsecured debts, medical bills and credit card collections. With the help of our program, you will be benefited by paying 60 percent less than what you have to. This program helps to increase your current and future financial position.
 

Is there any timeline for debt settlement?
Timeline totally depends upon your current financial condition and your accounts, whereas removedebtonline is highly been know for immediate result and settlement. It happens that we offer you consolidation of all the credit card bills, medical bills and collection account into a single monthly instalment, which also depends on your current affordability and availability of funds. Usually, we try to plan limited time frame of around 12 to 48 months, but we promote our customers to repay as soon as possible. Further, if your account are ready to be settled and you want your accounts to settled within a week then we can help you out with the same. And if you are looking for some of the most premium plans of 24 to 36 months of payment plan program then you can call us at         866-453-3821    

What if the creditor doesn’t accept?
We have been in this industry for a period and till date there hasn’t been a case where the creditor refuses to negotiate. We have good working relation with thousands of creditors and as part of business they are also benefited by the negotiation.

This entry was posted on Wednesday, February 25th, 2009 at 6:10 am and is filed under FAQ. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.