No Enrollment Fees so you can accumulate funds and settle your debt sooner.
As funds accumulate we will negotiate a reduced settlement with your creditors eliminating all of your unsecured debt in 12 - 36 months.
All funds are held in an FDIC insured bank account, in your name.
Member in Good Standing with The International Association of Debt Arbitrators.
Two Easy Steps to Qualify:
1) You Must Have A Minimum of at least $10,000 of Debt
2) Each Card Must Have A Minimum Account Balance of $500.00
Active Debt Solutions will work with your creditors to help you reduce your unsecured debts through arbitration and negotiations. The important thing to realize about Debt Settlement is that it is a different type of program than Consumer Credit Counseling or Debt Reduction. Traditionally, these types of programs work with your creditors to lower your interest rates. Active Debt Solutions works with your creditors and negotiate to reduce your credit card and unsecured debt balances, sometimes by as much as 35-65%! While this type of program can be quite effective there are some major issues that must also be considered.
Typically people in need of Debt Settlement are people who have suffered some type of financial hardship. This can range from job loss or divorce to medical issues. Debt Settlement is for people who are deep in debt and are without the means to repay their creditors. These types of people should be the only ones to use Debt Settlement. Debt Settlement should not be used by someone who is simply trying to escape their financial obligations.
Once you have joined the Active Debt Solutions Debt Settlement Program you will start saving money, on a monthly basis, so it can accumulate until you have enough money to begin settling on one or more of your current accounts. Under no circumstances should you do business with a company that requests that they hold your money in an escrow account. You should always be in complete control of your settlement funds.
Active Debt Solutions will contact your creditors and begin negotiating a reduced payoff amount. Once we negotiate an acceptable, written, settlement offer, you will give the OK to send funds from your settlement account to pay off that debt. This process will be repeated for each creditor until all of your debts have been repaid. As each of your creditors receives payment, you should receive written confirmation documenting that your debt has been paid in full.
By not making the required minimum monthly payments to your creditors, it is possible that you are breaking the terms of your agreement with them and most likely will be reported to consumer reporting agencies as a delinquent customer. This is the case whether you are currently enrolled in a Debt Settlement program or not. Upon enrolling in a Debt Settlement program, your credit score will probably get worse before it gets better. Additionally, it is possible for creditors and third-party collection agencies to use legal means as a way to collect debts.
However, the likelihood of being sued or having your wages garnished depends largely on the creditor that is owed money. If that happens, we will do our best to work with your creditors and come up with a settlement offer in hopes that a judgment may not be filed against you.
EXAMPLES:
Credit Card Payments with Annual Compound Interest Rate of 22%
Amount Owed Total Interest Years to Payoff Total Payback
$1,000 $1,205 8+ $2,205
$2,500 $5,330 20+ $7,830
$5,000 $12,205 28+ $17,205
$7,500 $19,080 34+ $26,580
$10,000 $25,955 37+ $35,955
$15,000 $39,705 42+ $54,705
$20,000 $53,455 46+ $73,455
