How To Enroll into a Debt Settlement Program
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How to Enroll in a Debt Settlement Program
Debt settlement can be a viable option when you are faced with high credit card balances, collections or medical bills.
The idea behind settlement is to get you out of debt as quickly as possible, so you aren’t stuck paying minimum payments while the interest continues to compound. We will work with you to reach your financial goals and in most cases, we aim to settle all accounts within 36 months.
If you decide that debt settlement is right for your financial situation, we will first confirm that you qualify for one of our programs.
Wondering how you should go about enrolling in a debt settlement program?
We’ve compiled a few tips to help guide you in moving forward with the enrollment process.
When you are ready to take the next step towards getting out of debt, contact us at Financial Rescue by calling 877-973-3287 to speak with one of our certified International Association of Professional Debt Arbitrators (IAPDA) debt consultants.
Finding a Trusted Company to Handle Your Settlement
It is important to know the company you are dealing with before enrolling in a debt settlement program. In order to make a wise decision, you need to do your due diligence when it comes to selecting a debt settlement company to work with.
Now this doesn’t mean you have to go out to dinner with our negotiators and learn their life story, you simply need to know the background and experience of the company.
The best way to be positive that you are choosing the best company for your needs is by looking for customer testimonials and reviews. Generally, you can get a solid feel for the history and customer service of the firm by searching online to learn about previous client experiences as well checking their Better Business Bureau rating.
If there is a great deal of genuine positive chatter across different websites such as people raving about how much money they were able to save; you can trust that you are dealing with a reputable debt settlement company.
Financial Rescue has been in business 10 years, is a BBB A+ rated company, and regularly receives 5-Star TrustPilot reviews by clients.
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Take advantage of our free, no obligation, debt consultation to find out if you qualify!
Avoiding Financial Damages and Fraud
While the reverse is true that you shouldn’t settle for a company with a plethora of bad reviews, if a particular company has a lack of reviews or information online that should not be a deal breaker. There are other factors that you can take into consideration such as the experience of the negotiators, the cost savings and the overall impression of customer service.
Your final decision on which company to enroll with should be based your personal experience and how helpful the staff was in explaining the entire process.
A vital checkpoint is making sure the debt settlement company has not been involved with misleading or fraudulent activities. Search for consumer complaints on the Consumer Financial Protection Bureau website and keep an eye out for issues such as fraud or scam, unexpected fees, problems with customer service or misleading advertising.
If a company has multiple customer complaints, you should avoid the financial heartache ahead of time and look for a more reputable debt settlement provider. If you find that a company has been cited for fraud and still trust them to handle your finances, it can be both time consuming and costly to recover your money in the case of a scam.
Here at Financial Rescue, we take your satisfaction seriously and our trustworthy team, made up of certified debt consultants, is dedicated to making sure your experience is painless and you are kept informed throughout the entire process.
Review the Cost, Payment Plan and Debt Savings
During the enrollment process, our team of certified debt consultants will review every aspect of the debt settlement program so that you can decide if it is right for you. Our negotiators will only accept qualified debts to ensure that reasonable expectations are set for the terms and conditions of the contract. You should know exactly what you are getting into before you sign any contracts.
It is important that you have the capacity to make the payments and that it is an affordable choice for your personal budget. Often when working towards getting out of debt, it may be necessary to review your finances and look for opportunities to reduce expenses. A premium cable package or monthly subscription may be convenient but unfortunately it is not paying off your debts.
While you are listening to the cost, payment amounts and projected savings, be sure to ask any additional questions if further clarification is needed. We aim to make sure you understand every aspect of the program which includes how it could potentially impact your credit.
Debt settlement is a favorable alternative to bankruptcy because you are able to settle with your creditors instead of charging off all of the accounts. It is true that your credit score will be affected but the bright side is that you are able to clear the debt balances and rebuild your rating.
Finalizing the Enrollment Process
After we review the financial aspects of the program, the next step is to sign the contract and move forward with the settlement.
The contract covers all of the details in regards to how the program works including how our negotiators contact the creditors, the process for payment authorization and consequences of non-payment.
We will explain each item to make sure you understand how we are helping you to pay off your debts for a lesser portion of the full balance. Our company does not skip through any parts of the contract to save time. We will verbally disclose all of the terms so you are fully informed.
Prior to finalizing the enrollment, you will be asked to provide proof of identification, income documents and information on the debts included in the settlement. This is standard procedure for the debt settlement program to verify the program is best suited to your situation.
Our document signing process is streamlined for you to be able to submit documentation and sign the contract from virtually any location. We offer the option to fax or email the documents which is a huge convenience factor if you are not local to our office.
Once the contract is signed and we have reviewed your documentation, we will notify you that everything is approved and provide you with a dual-signed copy for your records.
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What Happens After I Enroll?
The next step in the debt settlement process is to choose a third party account which will be used to pay your credit balances. After speaking with our negotiators and enrolling in the debt settlement program, you will start contributing payments to the account based on the amount outlined in your contract.
We highly recommend that you deposit more than the minimum payment if possible as it will give our negotiators a place to start with settling your balances.
Once your account has enough funds to begin negotiations, we will start contacting your creditors to settle the balances. We will never make a payment without your authorization, so you can trust that we keep you informed even after the enrollment is complete.
When you enroll in our debt settlement program, we are always just a phone call away to answer any questions or concerns you may have.
Contact us by calling 877-973-3287 to get started with the debt settlement enrollment process!
The Answer To Your Debt Settlement Concerns
Most of our clients pay off their balances within 36 months with one low monthly program payment.
To ask additional questions and to find out if you qualify, contact us today.