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Following enrollment, you set-aside a specific amount of money each month to a special purpose account. The amount you save each month is determined during your initial consultation and is based on the total amount of debt you enroll. As your savings builds, one of the companies we affiliated with will work with your creditors and collectors to reach agreeable settlements on each of your accounts. Once a creditor settlement has been negotiated you will be contacted to authorize it prior to payment. This process repeats until you are debt free!

You can absolutely attempt to settle debts on your own. The downside of self-settlement is that you likely have no experience in dealing with creditors and may be unable to optimize a settlement strategy

The account you open is with an FDIC insured bank account and it is administered by Debt Pay Gateway. Keep in mind that the only way to access it will be through the administrator however you will receive bank statements on a regular basis.

Yes. The debt resolution program will have a negative impact on your credit. Credit bureaus are notified throughout the settlement process. If you are experiencing a financial hardship your priority should be to pay off your debts as this will set the foundation for rebuilding your credit.

Under IRS rules creditors are allowed to report settled debts exceeding $600 as a loss. In this event the settlement must be reported by you as income. You should consult with your tax preparer for specific advice on the tax consequences of forgiven debt and how it applies to your financial situation.