I am sure you have seen all of the news reports and financial articles about how the debt situation in America is getting worse each month. In my role as a Debt Consultant, I am truly front and center to see the incredible and devastating impact COVID 19 and the economy has had on our society. According to the New York Federal Reserve Bank, non-housing consumer debt went over $4 Trillion in the 3Q of 2020. I wanted to tell my story since each day I answer calls from clients that need my help with debt they have accrued. Some are embarrassed, some are depressed, and some are even considering declaring bankruptcy. Every person I talk to is in a unique situation and each has a different amount of debt they need settled. I wanted to write this blog post to quickly explain the process that each one of my clients followed that ultimately puts them on the path to eliminating their debt. I want to share these stories to give hope to anyone reading this that things they are trapped in the "hamster wheel" of CC and loan debt. If this article can help one new client gain financial freedom, then my message was worth the effort.
As soon as I pick up the phone, I identify what company I work for. For those following at home, I work for Guardian Credit Solutions. My company is a Debt Settlement consulting company that eliminates our client's debt by working directly with their Creditors. Guardian Credit Solutions has selected and partnered with Churchill Credit Solutions to support our back end process and negotiations with Creditors. Churchill has been in the Debt industry for 11 years, is Better Business Bureau Accredited, and is also a part of the American Fair Credit Council.
What you should know is that both companies are highly dedicated to improving our client's financial situation, trained thoroughly on the processes and rules of debt settlement, and laser focused on lowering our client's monthly payments and ultimately eliminating their unsecured debt.
Once introductions and a review of our accreditations are done, I give a very high level overview of how our Debt settlement program works. To keep it simple: We negotiate directly with your Creditors to lower your monthly payments, end the cycle of compounding interest, and set you on a path to completely eliminate all of your unsecured debt in 24 -48 months. This will require our clients to not make their monthly payments to their Creditors, and the process does take approximately 3-9 months to lock in settlements with each Creditor. Results vary for each client, but typically, our customers see their monthly payments get cut in more than half while they are in our program.
Many clients next want to know what the fee will be to enter the program. The answer is simple. We will charge up to 20% of the total enrolled debt, but we will not earn any fee until we have settled our client's debt. What does that really mean for you? Skin in the game or "pay for performance". If we do not resolve your debt, you will owe us nothing. We will be working hard for you to get results, or our company will not be paid. That gives all of our clients peace of mind, as they know that our goals and objectives are aligned.
The next steps are fairly easy as I work with my clients to understand where they have their debt, how much with each Creditor, and confirm that all of the debt is unsecured debt. Once that information has been confirmed, I explain to my client that we will be setting up an escrow bank account for them to make their new monthly payments and together we choose an exact day each month that the payment will be put into the escrow account. My clients will know their exact new monthly payment, are able to choose between 24- 48 months for the length of the program, and I spend as long as needed to ensure they understand every aspect of our program. The final step in the process is a thorough review of our DocuSign contract with each client, and then signatures. In the spirit of not over complicating this, that is all each client needs to know, but there are then teams of people that work tirelessly to ensure each settlement goes smoothly, quickly, and efficiently. From the Client Services team that can answer any questions for our clients, to the negotiators, to the legal team, to the operations team, it truly is a massive team effort of coordinated work that goes on behind the scenes.
To keep this blog entry short, that is my high level overview of how our clients can lower their monthly CC/loan payments, consolidate all of their debt into one payment, and most importantly, eliminate their debt. When I say that we truly understand our clients are in a tough situation and need our help, we mean it. We are here to help you every step of the way as you improve your financial situation. Many of my clients tell me that they wished they had found me sooner, but I just say, that they found the right solution and are on their way to financial freedom.
For more information, our Debt Consultants are standing by to help you take the first step of improving your financial situation. Call us at 1-800-831-1946 for a no obligation 5 minute review of our program.