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Answers to common questions handled by our
support staff.
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Who is qualified for our debt settlement program?
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Who does not qualify for our debt settlement program?
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Do credit card companies provide help for delinquent customers?
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Will debt settlement have a negative effect on my credit?
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Will the ADS Program repair my credit?
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Can your
program stop my creditors from calling?
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What are the legal ramifications of the debt settlement
process?
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When should I consider Bankruptcy?
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What is secured debt vs. unsecured debt?
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How long will
the debt settlement process take?
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How does debt
settlement compare to debt consolidation?
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What is consumer credit counseling?
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How does the ADS Debt Settlement solution work?
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What will I pay for a membership to the ADS Program?
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Can
I receive additional help and use your online program?
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What happens
when you simply refuse to pay your debt?
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How is ADS
Financial different from other debt settlement companies?
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As an ADS
client, what help can I expect in the process?
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Our program is designed for anyone seeking
to eliminate debt. We have eliminated the need to search the web for the
questionable free advice and included proven solutions for individuals at
any debt level. Even if you are enrolled with a debt settlement company
this site is for you. You will learn the secrets of this industry, so that
you can make informed choices. You will also get assistance with the
annoying phone calls from your creditors.
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If times are currently
tough, but you feel this is a temporary situation, we encourage you to fight
through your immediate situation and pay your debts. Our program is not for
those who wish to scam the system by running up high debts, especially cash
advances, knowing they could not repay.
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Most people want to do
the right thing and handle their debts in a fair and responsible way.
Credit card companies stick to the credit contract you signed in every
detail. Late charges interest on the unpaid balance and more, including
notifying the credit monitoring agencies of any delinquencies.
Credit consolidation
companies will continue to meet the credit card contract by making timely
payment and restructuring your debt. They will not reduce your debt, which
our ADS Financial program is designed to accomplish. They will save
consumers money since credit
card companies derive about 30% of their annual income from fees. You must
approach your debt reduction strategy in a business- like approach. Debt
settlement is the alternative where you and your creditor can both make the
best of a difficult situation.
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Yes it will. As with
any debt relief program your creditors will realize you are having financial
difficulties and are seeking a way to resolve your burdensome debts. If you
currently have a high credit score your numbers will decline substantially.
If, however, your score has already suffered, the effects of debt relief
will not be as severe. You must consider, however, that unlike unmanageable
debt, which will take years if not decades to pay off, your credit rating
can be repaired in a reasonable amount of time, usually 12 to 18 months.
A question you should ask yourself “Can I Afford Good Credit At This
Time”? Should I protect your credit rating at all cost? What good is a
high credit score when you are drowning in debt? Your debt is killing
you. Your debt keeps you awake at night. Your debt prevents you from
planning for your future. Your debt is costing you a fortune. Your credit
score is not important if your debt is out of control. Your ultimate goal
should be to get rid of your debt first, and then work to repair your credit.
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Not completely. We
will give you suggestions on how to negotiate with your creditors to assure
the best possible report to the credit report agencies. Your credit score
should improve upon the successful completion of our program, since these
debts are paid and your debt-to-income ratio will improve. Although
debt-to-income ratios are not part of a credit score they are an important
measurement to mortgage and auto lenders.
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No, your creditors
have the right to contact you by mail and phone. Our program will show you
how you can eliminate most of these harassing calls. You will also learn
your rights and how to deal with any illegal collection activity.
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Can I be sued? Yes,
but any action will be limited to collecting this particular debt. The
threat of a lawsuit is usually just that, a threat. About 1% of these types
of debts end up in court. If, however, you are sued and lose, your creditor
has the right to several recourses including levies, liens and wage
garnishment, but these are extremely rare occurrences, and should not
discourage you from seeking debt freedom. We again will show you how to
deal with all these scenarios, such as are you judgment proof, does
arbitration work, what is debt validation, and can you work with your
creditor to resolve your debt. Our program will discuss this in great
detail and offer strategies to gain the best solution all the while
protecting your rights.
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With its long lasting
effect both emotionally and financially bankruptcy should be your option of
last resort. Yet for those who have debts they cannot possibly pay back,
have the legal system working against them and have exhausted all other debt
elimination options then bankruptcy can work for you. Just be sure you
approach this option with a full knowledge of its costs both upfront and
hidden.
Our program will spell
out all the advantages and disadvantages of Chapter 7 and Chapter 13
options, and how the new 2005 bankruptcy laws could affect your decision.
Plus the long and short term affects on your credit and purchasing power for
the 10 years a bankruptcy filing stays on your credit report. Our
experience is that many people tire of the collection process and harassment
and use this option to solve a short-term inconvenience without considering
the long-term ramifications of bankruptcy.
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Secured debt is
defined as debt backed or secured by a mortgage or pledge of collateral or
other lien in order to reduce the risk associated with lending and which the
creditor has the right to pursue upon default. Examples of secured debt
would be home mortgages, auto loans, and student loans. Unsecured debt is
defined as debt not secured by collateral in which the creditor holds no
special assurance of payment. If the borrower defaults, the creditor has no
assets to back up the loan. Only unsecured debt can be involved in the debt
settlement process.
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Secured
loans: |
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Unsecured
Loans: |
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(Not Eligible) |
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(Eligible for debt
settlement) |
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Home Mortgage |
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Credit Cards |
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Auto Loans |
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Medical Bills |
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Car Payments |
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Department Store Cards |
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Student Loans |
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Oil/Gas Credit
Cards |
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Secured Loans |
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Personal Loans (unsecured) |
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Income Tax Payments |
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Overdue Rent |
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The
length of time necessary to complete the debt settlement process varies from
case to case but on average, it takes between 12-36 months. Our online
program offers multiple calculators on your dedicated home page so you can
adjust your payments for all your credit cards to find the best way to pay
off your debts. We also show a complete debt settlement chart using your
credit card data so you can see exactly how the debt settlement process
works.
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The goal of debt
settlement is to reduce the overall amount of the debt, usually between 40 –
60% of the total. Debt
Consolidation loans transfer the debt from one account to another and
typically takes an unsecured debt
and changes it into a secured debt (usually your home). If you do not have
enough equity, bad credit, or too much debt, it is not likely that you will
be approved for a debt consolidation loan.
Statistics show that about 70% of the people who obtain a debt consolidation
loan find themselves in deeper debt than they were originally within a
two-year period. You
cannot borrow your way out of debt.
Ask yourself why you would want to go from an unsecured loan to a secured
loan over a longer period of time?
Be
careful of these debt consolidators, especially those that advertise as
non-profit or not for profit companies. The FTC and the IRS are
investigating these claims and have shut down or fined dozens of these
companies for misleading their clients.
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Consumer Credit Counseling Companies typically have a
non-profit status. Many consumers confuse "non-profit" with "no charge for
services", or charity. Non-profit Consumer Credit Counseling Companies
generate millions of dollars each month and employ thousands of people. The
way Credit Counseling works is that you typically meet with a Credit
Counselor, who analyzes your unsecured debts, other obligations, and your
monthly income. A credit counselor then formulates a monthly budget and
presents a plan that includes lowering of credit card interest rates and
sometimes, the monthly payment. The Credit Counseling Company then contacts
all your unsecured debt creditors and requests that the consumer be
permitted to enter the bank's hardship repayment plan at a lower interest
rate. Most hardship plans are for a 12-18 month period.
During
the program a single payment is sent to the Credit Counseling Company and
they in turn make payments directly to all your creditors for the next 12 –
60 months. The
consumer credit counselor charges what seems like a relatively small fee.
What you are not told is that the Credit Counseling companies act as a
surrogate of the Credit Card Company. They make most of their money from
"donations" from your Creditors based on the amount they "collect" from you
while in the program. An arrangement very similar to how collection
agencies are paid by creditors. So a credit counseling company may not have
your best interest at heart. These donations are the primary purpose for
these companies organizing under a "non-profit" status (for-profit companies
cannot receive donations.)
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ADS Financial has
created a complete online debt settlement website that gives you all the
tools and information necessary to settle your unsecured debts. There are
no monthly fees, no setup charges, no hidden charges, only a one time
membership fee that gives you complete access to our online debt settlement
program, with training and coaching, charts, calculators, sample letters and
scripts, interactive forum, and fully explained 5 options to help you stay
out of bankruptcy. Once you log-on to our website, you will have access to
your own dedicated homepage where you can manage your credit card accounts
online and compare your progress with other members anytime. You will have
access to our entire debt settlement program that guides you through the
process from start to finish. Our online program will show you how to get
started and what steps to take in order to verify your agreements We have
given all members access to our online forum where you can chat with other
members or in house professionals regarding your individual situation. If
necessary, we have attorney referrals to help with any legal issue at
reduced costs. Once you have finished our online debt settlement program,
you will have more information than most leading professionals in the
industry today.
ADS Financial offers professional help in our forum and tutorials so that
you have immediate help.
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We built this website
to help consumers get out of debt at a reasonable and affordable price. You
will receive a membership to our interactive self-help website which
includes forum membership, instructional training and coaching audio
sessions, downloadable forms, multiple calculators, charts, graphs plus much
more. See our 5 reasons why the
ADS Approach vs. other debt settlement companies makes sense. You can
settle your debts at the lowest cost and in the quickest time. Most of all
you will not pay the industry standard professional fees (15% of your
indebtedness).
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Yes. ADS Financial is
now offering you the option of sending your information to all of our
exclusive partner companies that are using our program. All of our partners
offer additional services along with our program to help you reduce your
debt. Just click on this link
Partner Program and fill out the submission form and a representative
from our partner companies will contact you shortly.
Back to Top
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Your creditors will
aggressively pursue their debt for 7 years. If any payment is made in that
time the clock resets itself for another 7 years. Your credit rating will
not be restored in that time. Bankruptcy has similar consequences but the
creditor will stop calling. One must also deal with legal fees involved.
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There are no
continuing or reoccurring fees. A one-time membership fee is requested to
access our exclusive online debt settlement assistance program. You do not
have to send us any settlement funds. ADS Financial believes settlement
funds should be controlled and managed by our customers. Many debt
settlement companies ask for funds and fees that are placed into accounts
that they can access and control.
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Even though our
advertising focus is on do it yourself debt settlement, we do not leave
anyone stranded. We offer help and coaching in our forum that is
available online. Detailed questions will be answered by our support staff
in our forum. We provide more help to the do it yourself person that
most companies offer from their professional staff.
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