Frequently asked questions
Table
of Contents
Q:
What kind of debt can you consolidate?
A: Any
unsecured debt such as credit cards, department store cards, personal
loans to major creditors, judgments, medical bills, collection
accounts, back taxes, charge offs, repos, and past due utilities
qualify for consolidation in our program. To qualify for our program,
your debt must total debt more than $3,000 combined and have at
least 2 or more accounts.
Q: What
exactly is debt consolidation?
A: Debt
consolidation is the process by which we negotiate with your creditors
to obtain better repayment terms for you on existing debt. Under
our debt consolidation plan, monthly payments are often lowered
and interest charges are reduced - even
to levels between 0 and 5%! You
save thousands of dollars in interest rates through a reduced
payoff period, saving you years or even decades of payments.
Q. Why
would the creditors be willing to lower my payments?
A. Creditors
are willing to participate in debt consolidation hoping that they
can avoid the expense of turning the accounts over to a collection
agency. Agreeing to consolidation also lessens the likelihood
of the client declaring bankruptcy. This program was made by the
creditors, for its customers.
Q. Will
you contact my employer or report to the credit bureaus?
A. No.
We will not contact your employer or
report to the credit bureaus
-- nor will we contact anyone other than your creditors. Enrolling
in our program, if anything - will improve your credit rating!
Q: Do
I have to pay a fee to use your service?
A: Our
credit counseling agency does require a nominal contribution on
your part to enroll in the debt consolidation program. This nominal
fee covers operation costs and will be included in your monthly
payment. Our fee is lower than our competition, we are number
one! This will be disclosed to you with the free quote.
Q: Can
I still use my credit cards?
A: You
can't use any credit card that are put on our program.
Q: What
do I need to do to get started?
A: All
you need to do is to fill out our No-Obligation
QUOTE form. - Click
Here
Q: Will
debt consolidation hurt my credit?
A: American
Debt Freedom does not report to the credit bureaus. We also, provide
a program for members to improve there credit.
Q: How will I know when payments
are made on your program?
A: Each
month you will still receive a statement through the mail from
our servicer indicating when a payment has been made and how much.
