FAQs

Why should I choose Financial Rescue LLC?

Financial Rescue LLC (FRLLC) is a marketing service provider for debt settlement programs, debt relief services, and law firms. We provide our clients options to their financial concerns. Our consultants provide professional solutions nationwide and we work in professional alliance with many of the nation’s top reputable debt negotiation companies and law firms.

We strive for customer excellence. We are dedicated to helping consumers resolve their debt problems. We provide debt settlement services nationwide and work in professional alliance with many of the nation’s top reputable debt negotiation companies and law firms to assist clients as advocates for their rights.

How can I get a copy of my credit report?

You are entitled to receive one free credit report every 12 months from each of the nationwide consumer credit reporting companies—Equifax, Experian and TransUnion. This free credit file can be requested through Annual Credit Report or by contacting the companies directly by phone or by mail as listed below.

To process your request, you will need to provide specific information, such as your name, current and previous addresses, telephone number, social security number, and date of birth. Also, to verify your identity, other information such as a copy of your driver's license, utility bill(s), or bank statement may be required. Keep in mind that the three large bureaus do not necessarily share information with each other.

The content of your credit report can be different at each bureau, so it's a good idea to request copies from each one.

To contact the three major credit bureaus:

Equifax 
P.O. Box 105873
Atlanta, GA 30348
http://www.equifax.com
(800) 685-1111


Trans Union
Consumer Disclosure Center
P.O. Box 1000
Chester, PA 19022
http://www.transunion.com
(800) 916-8800 or (800) 888-4213


Experian (formerly TRW)
P.O. Box 2104
Allen, TX 75013-2104
http://www.experian.com
(888) 397-3742

Where do consumer reporting agencies get their information?

Credit bureaus collect information from parties that have previously extended credit to you, such as a department store that issued you a credit card or a bank that granted you a personal loan.

What type of information is on my credit report?

There are usually four types of information:
  1. Identifying Information: Your full name, any known aliases, current and previous addresses, social security number, year of birth, current and past employers, and, if applicable, similar information about your spouse.
  2. Credit Information: The accounts you have with banks, retailers, credit-card issuers, utility companies, and other lenders (accounts are listed by type of loan, such as mortgage, student loan, revolving credit, or installment loan; the date you opened the account; your credit limit or the loan amount; any co-signers of the loan; and your payment pattern over the past two years).
  3. Public Record Information: State and county court records on bankruptcy, tax liens, or monetary judgments (some consumer reporting agencies list non-monetary judgments as well).
  4. Recent Inquiries: The names of those who have obtained copies of your credit report within the past year (two years for employment purposes).

What is a credit report?

A credit report is a record of your credit activities. It lists any credit card accounts or loans you may have, the balances, and how regularly you make your payments. It also shows if any action has been taken against you because of unpaid bills.

How long does it take to complete the program?

FRLLC affiliates have programs to fit your needs between 12-45 months. However, it could be sooner depending on your individual situation.  With our programs, there are no pre-payment penalties so, the faster your save, the faster you'll become successful in the program.

Will enrolling into a debt resolution program affect my credit?

By not making your minimum monthly payments to your creditors, you are breaking the terms of your agreement and most likely will be reported to consumer reporting agencies as a delinquent account. This is the case whether you are currently enrolled in a debt resolution program or not. Upon enrolling in a debt resolution program, your credit score will probably get worse before it gets better; however, this may be a better alternative and not having to file for bankruptcy!

Once we have settled your debts, you should receive a certificate from your creditors stating paid to the satisfaction with a zero balance owed. However, it is important to remember that if you want to maintain a “good credit rating”, you need to pay your bills on time; anything else will cause your credit score to suffer.

What is the difference between a Debt Resolution Program and Bankruptcy?

With a debt resolution program your debts will be combined with one monthly program payment but your debts are negotiated for less than what you owe. The average settlement ranges between 40-60% debt reduction on completed settlements. In most cases, you may complete the program within 12 to 48 months. Once a settlement has been completed on your behalf, you will no longer owe the debt and your credit report will reflect a zero balance.

Bankruptcy should be your last resort. Depending on which type of Bankruptcy is filed, you may still have to repay your debt and a monthly payment may be established. Bankruptcy is public record and will appear on your credit report for a number of years. In some cases, Debt Resolution may be a better alternative than Bankruptcy!

What is the difference between a Debt Management Program and a Debt Resolution Program?

A debt management program differs from a debt resolution program by a few ways. The debt amount owed is not reduced with the debt management program but with a simple interest rate reduction program. You will combine all your debts and make one payment each month. Average rate reduction can vary between from 6-10%. This type of program has a lessen effect on your credit score because monthly program payments will still be distributed among all of your enrolled accounts. However, your credit rating may have an adverse effect.

A debt resolution program has a similar approach where your debts will be combined with one monthly program payment but your debts are negotiated for less than what you owe. The average settlement ranges between 40-60% debt reduction. In debt resolution, your account will be handled by an attorney, paralegal and legal assistants. A creditor tends to treat an account differently when they know they must obey all of the laws governing them, and an attorney is going to be familiar with the laws of your state, which can definitely give you an advantage.

What is the difference between a Debt Settlement program and a Debt Resolution program?

With both programs your debts are negotiated for less than what you owe and combining your debt together giving you one monthly payment program. Settlements are based on your ability to save sufficient funds to negotiate with creditors to substantially lower the amount you owe. The main difference between the two programs is that with our debt resolution program, you are retaining full legal representation with a licensed attorney in your state.

Will all of my creditors agree to debt negotiation?

Financial Rescue LLC evaluates each client’s situation on an individual basis. While the programs work aggressively to reduce your debt balances, creditors are under no contractual obligation to negotiate or accept settlement offers. Estimates are based on historical results and individual results may vary. FRLLC affiliates have been successful in negotiating for our clients unsecured debts with an average settlement of 40 to 60%.

What is considered a hardship?

We deal with individuals and families facing hardship cases such as divorce, medical problems, loss of income/job/limited income, high interest rates, living paycheck to paycheck, etc. Credit card debt is a dangerous and growing problem. The average American family has approximately $10,000.00 in credit card debt and spends more than they earn on a annual basis. Credit cards can be useful tools when used properly, but more and more Americans are getting in over their heads and threatening their financial futures. It is important to realize that just because you can pay your minimum payments each month doesn't mean you don't have a credit problem. Low minimum payments only benefit the credit card company, not the consumer. The following are some of the warning signs that you have credit or debt problems.

What is the difference between unsecured and secured debt?

A secured debt is a debt in which the creditor maintains a security interest in an item or piece of personal property such as a house, automobile, boats, etc. With secured debts, if you fall behind on payments, the lender can repossess the property that originally secured the debt. An additional drawback to secured debt is the fact that you may remain liable for the deficiency balance owing on the debt after your property has been repossessed and sold. However, the laws vary from state to state.

Unsecured debt is debt in which you borrow from a creditor to obtain goods or services on credit in exchange for your promise to repay the debt. The primary difference between secured and unsecured debt is that unsecured debt is not collateralized by personal property. Unsecured debt is commonly given in the form of credit card debt, commercial debt, medical debt, automobile repossessions, utility collections, and some personal loans. In many cases, these accounts can be successfully resolved through a debt resolution program.

Is it possible to negotiate my debts on my own?

While it’s difficult to negotiate your debt on your own, it is possible.  FRLLC and its affiliates have the expertise and the knowledge to handle such matters and can guide you in the right direction.  FRLLC will review and discuss with you your debt solution options. Our debt resolution technique involves assessing your individual financial situations and determining what option is in your best interest. Many different options and payment structures allow you to customize your plan.  Our Debt Arbitrators can help ensure that you get the best settlements possible.

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Financial Rescue, LLC

Address:416 S. Hillview Drive,
Milpitas, California 95035
Toll-Free:1-877-97-DEBTS
1-877-97-33287
Facsimile:800-696-1437
Email:consult[at]financialrescuellc.com

Financial Rescue, LLC

Address:416 S. Hillview Drive,
Milpitas, California 95035
Toll-Free:1-877-97-DEBTS
1-877-97-33287
Facsimile:800-696-1437
Email:consult[at]financialrescuellc.com

 

Financial Rescue LLC (FRLLC) provides consumer leads to debt settlement providers and law firms to assist clients as advocates for their rights. We have a team of qualified experts who have come together to help people understand and resolve the different issues. We educate consumers by providing information and options to their financial concerns. We focus on the concerns clients’ face with repaying their debts, including credit cards, medical bills, unsecured loans and collection accounts. We also have a document preparation service to assist in applying for a Federal Student Loan Consolidation with the Department of Education.

Certified IAPDA Members have successfully completed the most recent version of the IAPDA training materials and certification exams, they are current with all industry practices, procedures and regulations and are totally equipped to professionally represent their consumer clients.

Debt Resolution Hardship Program

The idea behind debt resolution is to significantly lower your debt in the shortest amount of time possible with the best possible solution tailored to you, specifically. Through the Debt Resolution Hardship Program, your unique financial hardship is addressed through the assistance of an attorney program.

In this program, you will contract directly with a law firm, and be assisted by the law firm to substantially lower your overall unsecured debt amount. All the debt is combined together giving you one monthly program payment.

Debt Settlement Program

In the debt settlement program, your unsecured debts are settled for less than what you owe. Negotiations are done with each of your creditor, one at a time until the program is complete. The interest rates are not negotiated, the overall debt amount may be reduced to help you potentially eliminate the total debt faster than making the minimum payments every month. Your bills will be combined together giving you one monthly program payment. Your creditors are contacted to obtain a settlement on your behalf, however the settlements or payments are directed by you.

There is an add-on service made to compliment your debt settlement program, that can be combined with this program to provide you with full in-court legal representation if you so choose.

Legal Plan

Legal Plan is available for consumers enrolled in the debt settlement program which will provide participants with attorney’s representation without limits, deductibles or co-payments. Client benefits include Legal Document Review, Creditor Lawsuit Defense, Preparation of all court filings and full court representation. During your debt relief enrollment period, you have the option for the Legal plan.

Federal Student Loan Consolidation Assistance Program

In Student Loan Consolidation Assistance Program, We provide a free consultation for those looking for assistance in document preparation services to assist in applying for Federal Student Loan Consolidation Services using Department of Education (“DOE”) forms. Through our partnered private company, not affiliated with any government agency, we will assist you in assembly and submission of student loan consolidation documents.

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