Following enrollment you set-aside and save a fixed amount of money
each month. The amount you save each month is determined during your initial consultation and is based on
the total amount of debt you enroll. As your savings builds, we work with your creditors and collectors to reach
agreeable settlements on each of your accounts. Once a creditor settlement has been negotiated you will be
contacted to authorize it prior to payment. This process repeats until you are debt free!
The program is designed for anyone in financial hardship who is falling
behind or having problems making minimum payments to creditors on their unsecured debts. You must have a
minimum of $10,000 in total unsecured debt and a minimum of $500 of unsecured debt with each individual
The average time it takes for each client is 24 48 months; however, it
really depends on your ability to save the funds that will satisfy the amount of your settled debts. The program
length is an estimate and not a guaranteed time frame.
We will do our best to negotiate satisfactory settlements
on every account that is enrolled in our program. Unfortunately, our program does not have any effect on debts
that remain unenrolled. The most important advice we can give our clients is to adhere to the program payment
plan and work towards an on-time graduation.
Alleviate Financial debt settlement programs
can enroll most credit cards, store cards, medical bills, and other unsecured debts. We cannot assist with
collateralized debts such as mortgages, debt held at federal credit unions, and federal student loans.
It is our understanding that you have enrolled in this program
because you are in financial hardship and are unable to make payments to your creditors. If you are able to pay
your creditors every month, then it is in your best interest to do so and this program may not be the right
program for you.
Receiving calls is normal when you are in hardship and
behind on your payments. It would happen whether you are on the program or not. A creditor has a right to
call you to collect payment, and there is no way for anyone to make the calls stop completely. However, we
provide all our clients with information in our Welcome Package which will help in dealing with collector calls.
All collectors must abide by the FDCPA guidelines. These are rules put in place to make sure you are not being
harassed. If you feel this is happening, make sure to call our account manager team. If we determine collectors
are violating collection law, we can transfer you to one of our partner attorneys who specializes in debtor’s
Since you are in true hardship and cannot afford to pay
your creditors, the best thing to do is to inform them that you wish for them to send all communications to you
in writing. There is no law that says you have to talk with your creditors. The main thing you should do if you
are being bothered by a collector is call our account manager team and they will explain the best way to handle
Each situation is unique; therefore the time in which we begin to
negotiate settlements will be different depending on various factors (amount of debt, stage of delinquency,
type of creditor, your income, etc). In some cases, we will contact them right when the program begins and in
some cases we will contact them some months later. Our staff is trained in knowing when the best time to
initiate negotiations on the account is. Keep in mind that if we call too soon, it can have a negative impact
and cause escalated collection activity.
Individual results always very. Your monthly savings plan is
based on the average settlement. If your total settlements average lower than the initial estimate, then you
will have money left over in your account or you will finish the program sooner. However, if your total
settlements average higher than the initial estimate, then you will either be in the program longer or be asked
to add additional funds to your account.
You can absolutely attempt to settle debts on your own. The downside of self-settlement is that you likely
have no experience in dealing with creditors and may be unable to optimize a settlement strategy
The account you open is with an
FDIC insured bank account and it is administered by Debt Pay Gateway. Keep in mind that the only way
to access it will be through the administrator however you will receive bank statements on a regular
Once we have reached an acceptable settlement with one
of your creditors, we will fax, mail or email you the settlement offer to get your final approval. Whether
you accept or decline will be up to you.
Yes, it is possible to be sued by one of your creditors. If you receive a
summons or any other legal document from any of your creditors, make sure that you fax it to us
immediately. While we are not able to stop a creditor from suing you, we will do everything in our power to
expedite settlement and reduce any stress or problems associated with litigation.
If you receive a summons or any other legal document
from any of your creditors, make sure that you fax it to us immediately. We have established a relationship
with a nationwide law firm who will handle your case and assist with expedited negotiations.
It is impossible to accurately pinpoint the exact chances of
being sued because each person’s situation is different however in our experience only a small handful of
clients end up in court. The chances of litigation vary depending on your income, employment, hardship, and
many other factors.
You have the right to bring suit
against a collector in certain cases. We will be monitoring your creditor contact and evaluating the
correspondence sent to you. If a law has been broken we have a relationship with a debtor’s rights firm that
will file an action for you.
Yes. The debt resolution program
will have a negative impact on your credit. Credit bureaus are notified throughout the settlement process. If you
are experiencing a financial hardship your priority should be to pay off your debts as this will set the foundation
for rebuilding your credit.
No, legitimate negative marks on a credit report cannot be removed.
Your credit rating will begin to heal once the program is completed, provided your credit history is good on all
the other accounts on your report.
Under IRS rules creditors are allowed to report settled debts
exceeding $600 as a loss. In this event the settlement must be reported by you as income. You should consult
with your tax preparer for specific advice on the tax consequences of forgiven debt and how it applies to your
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