Frequently Asked Questions - Settlement Programs

Q. Will I really be debt free at the end of the program?

A. All accounts you enroll into the program will be reported "settled" with a zero balance and you will be released from any further obligation. You will be completely free of them!

Q. Why can’t I negotiate my debts on my own?

A. You can! You can also sell your own house, defend yourself in court or fix your own plumbing. Most of us are experts at something, but not everything. At Northeast Settlement Group we are experts in negotiation, specifically debt negotiation. We know the credit and collections industry very well--its cycles, its internal policies and procedures, and the federal and local laws applying to all parties in the industry. Keep in mind that the credit industry is also an expert at making people pay. Simply put, the tactics they use on you don't work on us. They know this and typically start at a much lower negotiating point with us than they would with you. And you won't have to take creditor calls at all--that's our job.

Q. What is better, debt settlement or bankruptcy?

A. Many people struggling with debt consider bankruptcy. The main disadvantage of bankruptcy if compared to debt settlement is that it will damage your credit history and score so bad that you won't be able to get any new loans for up to 7-10 years from the moment you file it! As opposed to that, a good debt settlement program will be able to settle your debts for a tiny fraction of their outstanding amount without letting the creditors make your credit history any worse. The second point is that debt settlement doesn't take as much time and effort as the process of filing for bankruptcy. And last but not least, with the new bankruptcy laws, you will most likely be forced into a Chapter 13 repayment plan instead of being allowed to file Chapter 7 bankruptcy, which means that in the following years you won't be able to spend money on anything but necessities. Doesn't sound very tempting, right?

A. Where are the funds held while I build for settlements?

Q. All settlement funds are held in an FDIC Insured Trust Account for you. This account is only used for settlement funds and is entirely controlled by you. Settlements are easily paid from this account directly to the creditor.

Call us today or visit us on the web at www.settleshort.com

866-794-1869