You’ve Got Questions, We’ve Got Answers

FAQ
We answer your questions.
Question: Why would I use the Consolidebt instead of any of the available non-profit companies?

Answer: The Consolidebt is actually the active source for most of the available non-profit programs. Still it’s here where you van get the suitable plan for your situation.

Question: If I won’t pay the monthly credit once, will I get problems?
Answer: No, but you shall inform the customer service so they will have your plan corrected.

Question: How can I see the continuous progress of my debt history?
Answer: Contact your customer service by the phone 888-777-6525 on Monday or Friday from 9 am till 9 pm. There the representative will give you all the data.

Question: Will I have to pay out to me creditors directly?
Answer: No, you will have to pay them through the special service. Still if you want you can make your final payment yourself. Still the regular payments are made by your debt manager.

Question: If my income isn’t steady, can I still take part in a program?
Answer: Yes, while all the fees are created on the basis of client-to-client. We will make sure your payments are completely affordable.

Question: How long will I have to wait until I pay all the debt?
Answer: You will discuss it with your debt manager. The answer will generally depend on your monthly income. The higher it is the faster you get rid of the debt.

Question: Will my payment data be kept confidential by the Consolidebt?
Answer: Yes, all your records will be kept safe and private. There will be only several authorized people who will be able to see your information. The creditors will only have the knowledge of our assessment to your credit situation.

Question: Why will me creditors decide to lower the interest rate for me?
Answer: Creditors are aware that our company is usually the last resort for the people who are not able to pay the debt. They will prefer to get at least something then to deal with some unknown collection agency or to get the information about your bankruptcy. Also we take a lot of paperwork as our duty, so the creditor will feel better this way.

Question: What is common between the Bankruptcy and the Debt Settlement?
Answer: There’s nothing common between them. Using the Debt Settlement means you still want to pay to your creditors, but your income is not enough to do so, so you’re seeking for some help from the aid programs. On the other hand the bankruptcy means you are not going to pay your financial obligations, which means you most likely won’t get a credit any more.

Question: Why it’s bad to file the bankruptcy?
Answer: Most people consider this option as a nice way to avoid payments. Still as the polls state, most people prefer not to file the bankruptcy, thus the Debt Consolidation is the perfect way out. With it you might pay put the debts with a low income.

Question: Do I have to stop using the credit cards?
Answer: No, all you have to do is to enroll the debts you want to get reduced by the program.

Question: Will I be able to use credit cards?
Answer: Since the creditors are aware of your utter wish to pay out the debts, the credit cards are usually getting frozen until the time you paid all the debt.

Question: Shall I have to put all the creditors to the named program?
Answer: If any of your creditors doesn’t have asked otherwise, you may include any accounts you want.

Question: What consequences will the program have on my credit report?
Answer: This depends mostly on the creditor. Most of the creditors do not have any huge problems with you being involved in the program. Some creditors may make a not about you. Still we do not have the practice to report to the credit agencies. Still even if they get to know about it they will consider you as a responsible person.

Question: What does the unsecure debt mean?
Answer: In this case the creditor will hold no collateral at all. In this case the loan will not be liquidated in case you do not make the payments in time. If the debt is secured, the loan might be taken away.

Question: When will be my first payment?
Answer: When your program starts, you will be given a free choice to pick up the suitable date. It will be fixed as one day in a month for you to provide the payment.

Question: What if I will get charged with late fees?
Answer: Most likely all your debts will be free from the over limit fees and possibly re-aged.

Question: Will the creditors still call me and send letters?
Answer: As you will give the first payment the creditors will stop calling.

Question: Must I be the part of the program till the day my dents are paid off?
Answer: No. If you feel like you’re able to pay for yourself without any aid, you can cancel the program at any time.

Question: Can I add some more accounts to the program?
Answer: Yes, if you feel like you need it for your debt payment.

Question: What are the common features of the Debt Settlement and Debt Consolidation?
Answer: Both programs help you to deal with your debt. Still in one option you combine the debts in one in order to pay in with less paper work. In the other case you are in need of the aid with your creditors, and that is what the program is about.