Frequently Asked Questions

Debt Defenders’ debt relief program allows you to settle your debt for less than you owe. This is also called debt settlement, debt negotiation, and debt resolution. Debt Defenders negotiates with your creditors, and then you can accept the settlement. Once you pay, the debt is wiped out.

Debt Defenders’ program is available to Americans who have a minimum of $7,500 in unsecured debt. This includes medical bills, personal loans, and credit card debt. The program was designed for people who have problems paying their debt and need a debt relief solution.

After evaluating your debt, Debt Defenders designs a program to help you get out of debt as quickly as possible. You will make monthly deposits into a dedicated savings account. This money will be used to pay your creditors. While the money accumulates, Debt Defenders will begin the negotiation process. If you agree to the settlement, the money will come directly out of the dedicated account.

Most of our clients are debt-free in 24–48 months. The total time depends on your total debt and the monthly total you are able to pay.

Most creditors expect you to have the settlement amount ready when you begin negotiating. These companies do not want to accept a settlement offer, only to discover that you can’t pay. Debt Defenders waits until you build up enough in your dedicated account to make appropriate settlement offers to the creditors. Most clients reach the first settlement within four to six months of entering the program.

Your credit score can go down during the debt relief process. You will have to stop making payments while Debt Defenders negotiates a settlement, and your creditors can report the late payments to the credit bureau. Also, when you settle an account, the creditor will report it as “settled” instead of paid. That can cause your score to go down a bit. However, Debt Defenders will teach you good credit habits that can help you rebuild your credit after you settle your debt.

When you settle a debt, it can remain on your credit report for up to seven years. While a settled account is technically a negative mark, it doesn’t have nearly as much impact as an unpaid account or a legal judgment.

Debt Defenders’ debt relief program will help you settle your unsecured debt. It is possible to settle all of your unsecured debt by the end of the program. However, the program does not address your secured debt. Many of our clients find that once they are out from under their credit card bills and other unsecured debt, they can tackle their secured debt. They begin making bigger payments on the secured debt and clear it out, as well. When you’re in the program, you can learn good money management and credit skills that will help you as you work to overcome both types of debt.

Debt collectors can continue to call you while Debt Defenders negotiates a settlement. However, you can refer the calls to Debt Defenders, so you don’t have to deal with the creditors directly.

Because you will stop making payments while Debt Defenders negotiates your settlement, your creditors might choose to take legal action. Debt Defenders can connect you to legal resources if a creditor chooses to sue you.

Some illegitimate debt relief companies have given the entire industry a bad reputation. Debt relief is not a scam, but some companies do not follow the rules. Debt Defenders follows all the rules and regulations, including only charging clients after a settlement is reached. Also, Debt Defenders is transparent with clients regarding the program. By operating openly and honestly, Debt Defenders has helped countless men and women settle overwhelming amounts of debt.

Various factors contribute to the settlement amount. Factors include the amount that you owe, the creditor who holds the debt, and your state of residence. The skilled negotiators at Debt Defenders often settle debts for 50 percent less than what clients owe. Some clients even pay less than that.

Debt Defenders does not charge upfront fees. Instead, you only pay when you authorize a settlement. Once you approve the settlement, Debt Defenders will take the agreed-upon fee out of your dedicated savings account.

Most creditors won’t be willing to entertain a settlement offer if your payments are current. Creditors must see that you cannot pay your debt before they consider a settlement. Many people find that going into default is the easiest way to accomplish this. Creditors are much more open to settling accounts that are in default since they are less likely to collect the full payment.

Debt Defenders’ debt relief program can be used to settle unsecured debt, such as credit cards and medical bills. You cannot use it for federal student loans or secured debt. Secured debt includes mortgage loans and automobile loans.

You don’t need good credit for the program. You don’t have to take out a loan to cover the payments, so you can settle your debts, even if you have bad credit.

You will own the dedicated savings account that holds your settlement funds. Debt Defenders will use the money to settle your accounts. Debt Defenders will also debit the program fees from the account after you agree on the settlement. However, the account will be in your name and you will have ownership over it.

You have to pay taxes on the forgiven debt unless you qualify for an exemption. Debt Defenders recommends that you consult with a tax advisor if you wish to file an exemption.

You have the right to contact creditors to negotiate and settle the debt. Many people prefer to use Debt Defenders, as our team of expert negotiators is able to get much lower debt settlement offers than a person can on their own. Our system is set up to help our clients succeed. Also, the system is set up to help people succeed. By depositing money into a dedicated bank account, clients can save money to use to settle the debts. Also, people get access to resources and tools that help them make wise financial decisions in the future.

If you still have questions about the Debt Defenders debt relief program, call us today at (888) 333-3851 for a free consultation with our expert team of debt consultants or fill out the form below to be called by our debt consultants.

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