Frequently Asked Questions

Q: How does the free debt relief analysis and savings estimate work?

A: The debt relief analysis and savings estimate (or savings quote) is free and there is no obligation. After you've answered a few basic questions online regarding your type of debt and amount of debt, a debt relief specialist will provide your debt relief analysis in approximately ten minutes.

Q: Will my free debt relief analysis affect my credit?

A: No, your debt relief analysis and savings quote will not affect your credit. Should you qualify and enroll in, a particular debt relief program, ask your debt relief specialist how credit could be impacted, depending on the debt option you choose.

Q: How much could debt relief save me?

A: No two situations are alike, so it depends on your circumstances. If you are currently have a high level of credit card debt and paying very high interest rates, a debt relief program, or debt consolidation program may be able to help you get control of finances and save a substantial amount of money. If you have very little debt and your current interest rates are relatively low, your debt relief savings could be minimal, if any. With a debt settlement program, the amount a credit card company agrees to "settle" or "forgive" depends largely on the amount of your original debt, your current situation and the lump-sum settlement offer that you are able to set aside.

A free debt relief analysis and savings estimate is a convenient way for you to see what debt relief could do for you, at no obligation.

Q: I want to know my debt relief options, but isn't there such as thing as "do-it-yourself" debt relief?

A: Yes, you have every right to contact each of your creditors to request lower interest rates, a removal of fees and penalties, lower payments - or even ask that they "forgive" or "settle" your credit card debt for much less than you owe. However, many people would rather this be handled by debt relief specialists whose business it is to do this on a daily basis.

Q: Will debt relief eliminate my debt and how fast could I be debt free?

A: There are various forms of debt relief, but none of them magically make your debts disappear immediately. Depending on the debt relief option you choose, debt relief may be able to reduce your interest rates, lower your payments, or even allow you to settle your debts for much less than you owe. However, you still have the responsibility to set aside the money necessary each month either to pay off your debt as quickly as possible, or to accumulate funds that can be used to make a "settlement offer" to a credit card company.

Q: Do I have to pay a debt settlement company before they have helped me settle my credit card debt?

A: No, unless you are working with an attorney who meets with you face to face, companies that sell debt settlement and other debt relief services by phone cannot charge or collect a fee before they settle or reduce your debt."

Q: If I am enrolled with a credit counseling agency on a debt management plan, may I stop paying my creditors?

A: No, while a credit counseling firm makes proposals to your creditors requesting lower interest rates, a removal of late fees and penalties, and more favorable payment terms, until credit card companies and other creditors actually agree to accept the proposal - you are still responsible for paying under the terms of your existing agreements.

Q: If a debt settlement firm helps me settle with a credit card company for much less than I owe, will I have to pay taxes on the amount of money I save if the credit card company "settles" or "forgives" a large amount of my debt?

A: Yes, the consumer must report the savings amount from the settled debt as "income" and if the savings is $600 or more, you will be taxed by the IRS.

A free debt relief analysis and savings estimate is a convenient way for you to see what debt relief could do for you, at no obligation.

Q: Does debt relief work and will I be successful on the program?

A: Debt relief options have helped many individuals and families get back on track financially and save a substantial amount of money in the process. However, to be successful you still have to live up to terms of the agreement by setting aside money each month to reduce or payoff your debts at an accelerated pace, or to accumulate a lump-sum amount to offer as a settlement to credit card companies. Even though debt relief programs can save a substantial amount of money, the responsibility is still with the consumer to pay down, or settle debts for less than is owed.

Begin online to get a free debt relief analysis and savings quote at no obligation.

Q: How do debt relief programs differ from bankruptcy?

A: Bankruptcy is a vital debt relief option that can help give individuals deep in debt a fresh start and new lease on life. However, bankruptcy is a serious financial decision that will have a long lasting impact on your personal finances and credit. In addition, new laws now require those filing Chapter 7 straight bankruptcy to earn less than the "median" or average income for a family of their size in Texas. Debt relief, on the other hand, doesn't discharge your debt obligations like bankruptcy - but debt relief may allow you to get relief by reducing interest rates, lowering payments, extending payment terms, or even by "settling" with credit card companies for much less than you owe.

A free debt relief analysis and savings estimate is a convenient way for you to see what debt relief could do for you, at no obligation.