What Are Debt Settlement Services?
Debt settlement is a way to resolve debt. It involves negotiating with lenders for a reduced payback of your outstanding debt balance. This will eliminate excess fees and interests in addition to reducing your balances by as little as .40-.80 cents on the dollar. Debt settlement is an alternative to bankruptcy and can result in a more beneficial solution and less damaging to your credit.
What Is The Cost of My Debt Analysis?
The debt calculation analysis and relief savings are free, all of your information is confidential, along with no obligation to commit. We will need to collect some basic information regarding your debtors and finances in order to design a unique savings plan. Encompass Recovery Group will charge no upfront fees and there are no hidden costs. We have a pay per performance Debt Relief model, therefore, you only pay as we deliver results. Once we have negotiated and agreed to a settlement on your behalf, and payment is made, our fees will then be collected.
What Are The Advantages Of Debt Settlement?
Advantages of a Settlement Program
- No upfront fees
- One low monthly payment
- Payment is typically less than your current minimum payments
- Resolve debt significantly faster than you can on your own
- Substantial savings in the total amount paid
- Peace of mind
How Much Will I Pay For Your Services?
In our debt settlement program, we typically charge a small percentage that varies between 10-20 percent of the total amount of debt that we are successfully able to settle.
How Will Encompass Recovery Group (ERG) Get Rid of My Unsecured Debt?
Our objective is to maximize savings for our clients. We accomplish this by consulting with our clients to determine a unique savings plan that will fit into their budget. Once we determine a comfortable repayment option, we will then establish terms to resolve the enrolled debt amount.
Our trained Account Managers will negotiate directly with the lenders provided to settle the debt with terms as low as .40 cents on the dollar. As funds are accumulated by the client in the dedicated escrow account, we disperse settlements in order of priority
Will Debt Settlement Hurt My Credit?
This is a valid concern for many of our clients, however when considering a debt settlement program, it is important to first understand and establish your goals. If you are current with your payments and/or see yourself falling behind in the near future, you may want to consider a Debt Settlement Program.
It is important to understand that joining a Debt Settlement Program will temporarily affect the credit for accounts that are current, since you are required to be behind in payments in order for your creditors to accept settlement arrangements.
If you are currently behind on your payments, your credit has already been affected, therefore a Debt Settlement Program would be a perfect solution for your debt resolution needs.
How Long Will It Take To Resolve My Debt?
Typically the average consumer will pay back 3x of the amount that they owe over the course of 15-20 years if they are only making minimum payments to their creditors. This may occur as a result of high interest rates and fees which are designed to enrich the creditors and keep you in debt.
Our program is designed to put you back into the driver seat by dramatically reducing the payback time and putting the money back into your pocket. On average, depending on the amount of debt enrolled, our clients may become debt free within 24-60 months
Is The Money In My Dedicated Account FDIC Insured?
Yes, the dedicated account providers that we partner with and provide to our clients are FDIC insured up to the FDIC limits (currently $250,000).
How Will I Be Protected If My Creditor Decides To Sue?
Within our program, we do offer legal protection options through our Attorney network to aid our clients in the event that a creditor should decide to pursue legal action and recover unpaid balances.
Having this protection gives our clients peace of mind while enjoying the benefits our program has to offer.