Debt settlement companies do not assume consumer debt,
make monthly payments to creditors on behalf of customers or provide tax, bankruptcy, accounting or legal advice or credit repair services.
It's a way to pay down your outstanding debt through the agency, which works with creditors to lower your interest rates, and then
distributes monthly payments to the creditors, while offering fundamental financial advice that could prevent a repeat of the problem.
Finally, know that you will be held responsible (and it will likely be reported on your credit history) if your DMP is late with
its monthly payments to your creditors.
Whatever the cause of you plunging into an uncomfortable level of debt, your goals should be to reduce your expenses, increase
your monthly payments to creditors, reduce interest rates and pay off your bills by a set date.
We do not assume consumer debt, make
monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice and we do not provide credit repair services.
Debt consolidation makes controlling your finances much easier because you will be dealing with just one creditor and making just one
monthly payment to that creditor.
Finally, know that you will be held responsible (and it will likely be reported on your credit history) if your DMP is late with
its monthly payments to your creditors.
I understand that I should continue to make
my monthly payments to each creditor until the balance transfer appears as a credit on the account (s).
There is also a monthly administrative fee or «voluntary contribution» for handling
the monthly payments to your creditors and any follow - up that is required during the DMP.
We do not assume your debts, make
monthly payments to your creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services.
So while we take care of sending
your monthly payment to your creditors each and every month, you will continue to pay your rent, utilities, groceries, etc..
They charge you fees for their services, which include talking to creditors to negotiate lower monthly payments and disbursing
your monthly payment to your creditors so that you only need to make one monthly payment to the firm.
Once you understand your ability to make
monthly payments to your creditors you can then set up a debt reduction plan.
Keep in mind that you also incur a monthly fee as an addition to
monthly payments to creditors and that the program will show up on your credit record.
Another major plus of debt consolidation is the amount of money you will save when making
your monthly payments to your creditors.
The process works very similar to debt negotiation, except that the debt settlement company will try to negotiate a lower debt payoff, and make
monthly payments to the creditor to achieve that end.
Further, these programs often encourage or instruct their clients to stop making
any monthly payments to their creditors.
In contrast to debt management plans in which consumers make
monthly payments to creditors, the debt settlement business model generally requires that a consumer stop making regular payments to creditors.
Settlement companies do not make
monthly payments to your creditors.
A DMP calls for
monthly payments to all creditors.
We do not assume your debts, make
monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services.
«Debt settlement providers often encourage consumers to stop paying creditors, or consumers stop on their own because they simply can not afford simultaneously to make
monthly payments to their creditors, set aside funds for settlements, and pay fees to the debt settlement company.
GRT Financial, Inc. does not make regular
monthly payments to your creditors.