Frequently Asked Questions
Q: What is debt consolidation?
A: Debt consolidation is a process through which your creditors are contacted by a debt consolidation company to get you lower balances and lower interest rates. Then your debts are combined into one, and instead of making multiple payments to your creditors each month, you only make one monthly payment to the debt consolidation company. This single payment will cost less than the sum total of your prior multiple payments.
Q. How does debt consolidation affect my credit score?
A. Enrolling in a debt consolidation program does not raise or lower your score. Having delinquent balances will lower your credit score. Filing for bankruptcy protection destroys your score. But with a debt consolidation program, after you have made timely payments for just the first three to six months, some of your creditors will report your accounts as current.
Q: What are your fees?
A: There's no fee to complete our online form, but once you enroll in a debt consolidation program, you pay an initial deposit and a low monthly fee. The deposit is returned when you have successfully completed your program, and since we're a non-profit company, your monthly fee is nominal.
Q. How much can I save with the Debt Free Debt Consolidation program?
A. We can cut your payments by as much as 67%.
Q. How does Debt Free Debt Consolidation consistently score such amazing balance reductions?
A. Through a process of negotiation that takes place between our accomplished credit counselors and your creditors.
Q. But how are the credit counselors of Debt Free Debt Consolidation able to score some of the best balance reductions in the industry?
A. Reputation and skill level. Because of our outstanding track record of success, we are recognized by our colleagues in the financial industry as one of the most ethical and accountable brands in debt consolidation. We have established and maintained unparalleled relationships with your creditors since day one. Therefore, once your creditors learn you are a participant in our consolidation program, they are immediately put at ease and very receptive to working out the best deals during the negotiation process.
