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DEBT FACTS
 
If you fall behind on your payments there are certain thing that you should be aware of that could help you deal with debt collectors. The Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection. These are SOME of the items that are involved in that act.
 

What debts are covered?

Personal, family, and household debts are covered under the Act. This includes money owed for the purchase of an automobile, for medical care, or for charge accounts.
 

Who is a debt collector?

A debt collector is any person who regularly collects debts owed to others. This includes attorneys who collect debts on a regular basis.
 
How may a debt collector contact you?

A collector may contact you in person, by mail, telephone, telegram, or fax. However, a debt collector may not contact you at inconvenient times or places, such as before 8 a.m. or after 9 p.m. , unless you agree. A debt collector also may not contact you at work if the collector knows that your employer disapproves of such contacts.

 
Can you stop a debt collector from contacting you?
You can stop a debt collector from contacting you by writing a letter to the collector telling them to stop. Once the collector receives your letter, they may not contact you again except to say there will be no further contact or to notify you that the debt collector or the creditor intends to take some specific action. Please note, however, that sending such a letter to a collector does not make the debt go away if you actually owe it. You could still be sued by the debt collector or your original creditor.
 
May a debt collector contact anyone else about your debt?
If you have an attorney, the debt collector must contact the attorney, rather than you. If you do not have an attorney, a collector may contact other people, but only to find out where you live, what your phone number is, and where you work. Collectors usually are prohibited from contacting such third parties more than once. In most cases, the collector may not tell anyone other than you and your attorney that you owe money.
 
What must the debt collector tell you about the debt?
Within five days after you are first contacted, the collector must send you a written notice telling you the amount of money you owe; the name of the creditor to whom you owe the money; and what action to take if you believe you do not owe the money.
 
May a debt collector continue to contact you if you believe you do not owe money?
A collector may not contact you if, within 30 days after you receive the written notice, you send the collection agency a letter stating you do not owe money. However, a collector can renew collection activities if you are sent proof of the debt, such as a copy of a bill for the amount owed.
 
What types of debt collection practices are prohibited?

Harassment. Debt collectors may not harass, oppress, or abuse you or any third parties they contact. Unfair practices. Debt collectors may not engage in unfair practices when they try to collect a debt

 

What control do you have over payment of debts?

If you owe more than one debt, any payment you make must be applied to the debt you indicate. A debt collector may not apply a payment to any debt you believe you do not owe.
 
Where can you report a debt collector for an alleged violation?
Report any problems you have with a debt collector to your state Attorney General's office and the Federal Trade Commission. Many states have their own debt collection laws, and your Attorney General's office can help you determine your rights.

If you have questions about our debt settlement program, you're not alone. You will find the answers to some of these questions below. We have established a list of the most frequently asked questions regarding debt settlement, and our qualified financial counselors have provided the answers.

If your questions are not answered, please feel free to call us at 1-800-979-4145. You can also click here to send us an email and we will be happy to answer any questions you have.
 
Q1:
 What's the difference between Debt Consolidation and Debt Settlement?
Q2:
 How long does the debt settlement program take with National Settlement Solutions?
Q3:
 Is my credit report adversely affected by enrolling in your debt settlement program?
Q4:
 When I enroll in the program, what will happen to my current accounts, can I still use them?
Q5:
 Is my debt information kept confidential?
Q6:

Will I be able to track the progress of my debt settlement program?
Q7:
 Who pays the creditors while I am enrolled in the debt settlement program?
Q8:
 Do I have to include all of my creditors into the program for settlement?
Q9:

What if my creditors won't settle?

Q10:
 Will late fees and interest still accrue on my accounts?
 
Q1:
 What's the difference between Debt Consolidation and Debt Settlement?
Answer:
 Debt Consolidation and Debt Settlement are not the same thing. At National Settlement Solutions, we use a proven Debt Settlement process to work with creditors on your behalf to actually settle the full balance you owe to your creditors for a reduced amount. Debt Consolidation requires you to pay off your debt in full, usually at a reduced interest rate.
 
Q2:
 How long does the debt settlement program take with National Settlement Solutions?
Answer:
 The amount of time you are enrolled in our debt settlement program actually depends on the amount of funds you have available to pay off your creditors. During your consultation, you will establish an affordable monthly payment with our representative that will determine how long it will take to settle with all your creditors.
 
Q3:
 Is my credit report adversely affected by enrolling in your debt settlement program?
Answer:
 You may experience an adverse affect on your credit if your debts are current with no history of late payments. But this is not the typical situation for most of our clients. Our Debt Settlement program will in most cases improve your debt-to-income ratio and may therefore, actually improve your credit standing.
 
Q4:
 When I enroll in the program, what will happen to my accounts, can I still use them?
Answer:
 Once you enroll in our program you are not able to use your accounts.
 
Q5:
 Is my debt information kept confidential?
Answer:
 We are 100% committed to maintaining complete confidentiality. Your information will not be released to anyone except those persons authorized by you to receive information on your behalf. Of course, the creditors will be advised by us that you have contracted our service to assist you.
 
Q6:
 Will I be able to track the progress of my debt settlement program?
Answer:
 Of course. You can call us at 1.800.979.4145 between 8 am - 7 pm EST to speak with a the negotiator assigned to your account. You will also receive monthly reports that will keep you informed of the activity on your personal settlement account.
 
Q7:
 Who pays the creditors while I am enrolled in the debt settlement program?
Answer:
 Payments will be made from YOUR Settlement Savings account when we reach agreement with your creditors and there are sufficient funds accumulated.
 
Q8:
 Do I have to include all of my creditors into the program for settlement?
Answer:
 You should keep one credit card open for emergency use only and to help strengthen you credit rating once you have finished the program.
 
Q9:
 What if my creditors won't settle?
Answer:
 This is a very unlikely situation, in that creditors know that if they do not settle accounts, even for a fraction on the debt, they will likely not receive any payment on the account whatsoever. In the unlikely event that a creditor will not settle with our offer, they will return with a counter offer that will still be favorable to you.
 
Q10:
 Will late fees and interest still accrue on my accounts?
Answer:
 It is not possible to stop a creditor from adding interest or late fees to an account. However, your personalized program will reflect those fees and/or interest, and is incorporated into the Settlement Program. Even if fees are added, we negotiate the debt down to a fraction of what you owe so your savings are much greater than the addition of interest or late fees.
   

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Individual results may vary and are based on ability to save funds and successful completion of all program terms. Program does not assume or pay any consumer debts, and will not provide tax or legal representation. Program is not available in all states. Please read and understand all program materials and disclosures before enrolling.

Note: We are unable to service any residents of FL, GA, HI, ID, KS, ME, MS, NJ, NY, OH, SC, VT, WI & WV at this time.