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We Can Do it All
America Debt Resolutions an A+ Rated Company, and its debt relief partners specialize in helping consumers review multiple debt relief programs, such as credit card debt consolidation, debt management, credit counseling, and includes a debt settlement program with NO FESS PAID IN ADVANCE. We guarantee you will not pay any fees for the services until our negotiators have successfully settled/resolved a debt for you
Option 1 Debt Settlement
In the early days settling debt was for wealthy prominent individuals who used this option strategically alongside with their accountant or advisor. In today’s society it is not that case any longer. Having a professional debt negotiation company working on your behalf will result in increased savings for you and your family. Once the creditors realize that they are speaking to a professional who is familiar with their tactics, they are suddenly willing to discuss a settlement. An aggressive negotiator will always obtain better results than you could ever get by yourself.
- Reduce Your Total Unsecured Debt
- Program terms available
- Help with Collection/Creditor Calls
- One Low Monthly Program Payment!
Usually, creditors agree to have the borrower pay for only a percentage of their original balance – the rest will be forgiven. Your credit score will be negatively affected with settlement. It is an alternative to bankruptcy so the effects on your credit will be similar – temporarily.
Option 2 – The New Bankruptcy Law
Prior rules under Chapter 13 required people to dedicate all of their disposable income (what they had left after paying their actual living expenses) to their repayment plan. Unfortunately, the new law requires you to cover all your bases. Although Chapter 13 filers still have to hand over all of their disposable income, they have to calculate their disposable income using allowed expense amounts dictated by the IRS and not their actual expenses. If their income is higher than the median in their state, these expenses are often lower than actual costs.
These permitted expense amounts subtract from the filer’s actual earnings each month, not from the filer’s average income during the six months before filing. This means that debtors may be obligatory to pay a much larger amount of “disposable income” into their plan than they actually have to spare every month, which, in turn, means that many more Chapter 13 plans will fail.
Under the new law, you must value your property at what it would cost to replace it from a retail vendor, taking into account the property’s age and condition. This requirement is sure to raise the value of property, which means more debtors stand to have their property taken and sold by the trustee.
Furthermore, the financial impact is severe; a bankruptcy will stay on your credit report for 10 years. Every time you apply for employment, credit, whether it is a home, a car, a lease, or insurance, you are impacted. The long-term effect of higher rates many times greatly outweighs the short-term impact of filing bankruptcy. Most people do not realize that bankruptcy can stay on their court records for over 20 years, which means it can follow someone for the rest of their life. If you apply for a job, a loan, rent an apartment, or even insurance your bankruptcy filing is easily uncovered.
Not all debts discharge through bankruptcy, such as:
- Debts resulting from fraud
- Fines from traffic tickets or debts that result from criminal negligence
- Debts from willful or malicious injury to another person or their property
- Child Support
- Student Loans (Currently, student loans cannot be discharged unless the individual passes an undue hardship test. The individual has to prove that they made good faith efforts to repay the loan and prove that they cannot maintain a minimal standard of living if you were forced to repay the loan)
Option 3 - Debt Management
DMP Program is a good resolution for clients, who are comfortably making their minimum payments, have an emergency fund for their family and do not need or use their credit cards to cover any monthly living expenses.
This is a program of credit counseling services for troubled credit card holders. These agencies have branched off to the private sector but at least you know that there are cheaper alternatives. Debt management agencies will help you analyze your financial standing, determine how much you can pay, and will negotiate with the creditors on your behalf. The negotiation can be on longer terms or lower monthly amounts – whatever is necessary for you to afford payments. Instead of paying the creditors’ directly, you will be paying the debt management agency and they will distribute the funds accordingly.
The debt management program allows you to:
- Get out of debt much faster
- Reduce your interest rates
- Alternative to bankruptcy*
- Help with Collection/Creditor Calls
The benefit of going for this type of debt relief option is the possibility of lowered interest rates and monthly payments, waived penalty charges and other fees. Most of all, you will no longer be harassed by your creditors as they will be coursing everything through the debt management agency.
Option 4 - Debt Consolidation
Also known as a consolidation loan, debt consolidation is the substitute of several loans with a single loan, often with a lower monthly payment and a longer repayment period.
Regarding debt consolidation, the Federal Trade Commission states, that a consumer may be able to lower the cost of credit by consolidating debt through a second mortgage or a home equity line of credit, but these loans require the home as collateral. If you cannot make the payments, or if your payments are late, you could lose your home.
The credit counseling program allows you to:
- Significantly reduce your interest rates
- Help with collection / creditor calls
- Get out of debt much faster
- Remove excessive fees
- Rescue your credit score
What’s more, the costs of consolidation loans can add up. In addition to interest on the loans, you may have to pay “points,” with one point equal to one percent of the amount you borrow. Still, these loans may provide certain tax advantages that are not available with other kinds of credit.
Source: Federal Trade Commission, “Facts for Consumers”
Therefore, by consolidating your unsecured debt with a home equity loan, you run the risk of losing your hard-earned assets if you default on your payments. You will still pay the full balances on your unsecured debt and must have a low debt-to-income ratio to qualify.
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America Debt Resolutions, LLC is a compliant contingency fee debt settlement company and debt marketing. America Debt Resolutions, LLC may refer you to a premier affiliate for debt management, bankruptcy or other services. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. *** INDIVIDUAL RESULTS MAY VARY BASED ON ABILITY TO SAVE FUNDS AND COMPLETION OF ALL PROGRAM TERMS. PLEASE REQUEST, READ AND UNDERSTAND PROGRAM DISCLOSURES AND AGREEMENT PRIOR TO ENROLLMENT. NO FEE RISK to you - we guarantee that you will pay NO FEES for your debt relief services until we successfully resolve a debt for you.