Will creditors continue to call me?

The original creditor retains the right to contact you, until such time as the debt has been transferred to a 3rd party for collection efforts. Until that time, it is impossible to get those calls to stop completely, no matter what anyone tells you. Once the account has been transferred, you should see those calls start to diminish over time

Can I settle my debts on my own?

Without the experience and relationships that NCRB has with your creditors, it would be extremely difficult to settle your debts on your own. You are also emotionally involved and handling debt settlement yourself would be like repairing your own automobile; it can be done, but only if you have the expertise and tools.

Do all of my debts have to be included?

No. We will handle only those debts that you want to include in the program. Many people retain one credit account for emergency use. Discuss your situation with your individual debt consultant

Can my program be accelerated if funds become available to settle my accounts?

Yes. National Debt Resolution will begin negotiating on your behalf just as soon as funds are available and the creditor is ready to do so. Many consumers get out of debt earlier than expected after securing funds for settlement. There are no prepayment penalties for getting out of debt early!

How much does the program cost?

ncrb has a flat fee based on a percentage of the unsecured debt you enroll in the program. There are no other monthly or hidden charges whatsoever. Your monthly payment is determined by your current budget. Your debt consultant will thoroughly explain this during your initial consultation and will custom tailor a program just for you.

What are the differences and similarities of between credit card debt settlement and credit counseling?

Both of these processes help you gain control of your finances, eliminate debt and allow you to head in the direction of living a debt free life. Generally speaking, credit card debt settlement tends to be a more aggressive approach than credit counseling. In a credit counseling program which usually lasts between 4 to 6 years, counselors work on your behalf to get your interests rates reduced and not a reduction in the total amount you owe. Credit Card Debt Settlement programs usually last 1 to 3 years on average and usually include significant balance reduction

What debts can be negotiated?

Debt negotiation is applicable to debts such as:
- Unsecured credit cards
- Medical bills
- Payday loans
- Personal loans
- Store cards
- Bounced checks
- Student loans can be negotiated if they are not insured by the Federal Government.

What are the differences between Regulated Debt Modification Program (Debt Negotiation) and Credit Counseling?

The most important difference between these two programs is that with credit counseling, you pay back all of the debt balances, plus interest and fees, where as with Regulated Debt Modification Program (Debt Negotiation), you pay back only a portion of your debt load. That's why Regulated Debt Modification Program (Debt Negotiation) is a much faster path to debt freedom (2-3 years) than Credit Counseling (5-9 years) and affects credit according. This means a lot less money out of your pocket and a lot less time impact against credit is used through the Regulated Debt Modification Program (Debt Negotiation) approach. Another key difference is that your Regulated Debt Modification Program (Debt Negotiation) firm works solely for you, the consumer, and receives no compensation directly from the creditors. In other words, your Regulated Debt Modification Program (Debt Negotiation) firm is truly on your side. With a credit counseling agency, there is a dual relationship, where part of their income comes from the client and the majority of it comes from kickbacks paid by the creditors. This creates a built-in conflict of interest and creates doubt as to whose side the agency is really on. Also, Regulated Debt Modification Program (Debt Negotiation) provides much more flexibility than credit counseling in both the monthly budget level and the types of accounts that may be enrolled. For example, if you have a really tough month and need to skip a payment, that situation can be absorbed by a Regulated Debt Modification Program (Debt Negotiation) program, whereas it will cause serious problems with a credit counseling program. Further, if your accounts have "charged off" and gone into the third-party collections cycle, you can still enroll those obligations in a Regulated Debt Modification Program (Debt Negotiation) program where they will be rejected by a credit counseling agency.

How does this program work?

Regulated Debt Modification Program (Debt Negotiation) works by reducing the balance owed (principal) on your unsecured personal debt accounts through the time-honored process of creditor negotiation. This is different from simply reducing the interest rate as with Debt Consolidation and Credit Counseling, which do not affect the total debt balance. By reducing the balance itself, Regulated Debt Modification Program (Debt Negotiation) provides a much faster means of becoming debt-free. Most creditors are willing to accept 50%, 40%, sometimes as low as 20% of the balance owed in order to close out an account rather than lose the entire amount in a bankruptcy proceeding. From a business perspective, it is a matter of the creditor receiving something rather than nothing, as would be the case in most bankruptcies. Of course, different creditors have different policies, but as a rule, discounts of 50% or greater are routine in the industry. As a consequence of this approach, money that was previously wasted on endless minimum payments (most of which went toward interest charges) goes toward reducing the actual debt balance. That's Regulated Debt Modification Program through negotiation is the fastest debt elimination method short of Chapter 7 bankruptcy.

Will this strategy work for me?

While the Regulated Debt Modification Program (Debt Negotiation) approach is not suitable for everyone, its flexible nature makes it applicable to a wide range of financial circumstances. For individuals and families seeking an alternative to bankruptcy, there is simply no better option to get out of debt. Here are a few guidelines to help you determine whether or not debt settlement is something you should consider.