Q: How does your credit card debt settlement program work?

A: When you enroll in our debt settlement program, we set you up on a monthly payment that is as much as 50% lower than your current minimum monthly payment. In the meantime, we negotiate with the credit companies to get them to agree to substantially lower the amount you owe. Once you have saved enough money and a creditor has agreed to a pay off (sometimes for as low as 40 to 50 percent of what is owed), we pay off the credit card company with a lump sum settlement.

Q: What is the process for getting started with your debt settlement service?

A: First, we ask that you fill out a form and contact one of our debt settlement experts. Then, depending on whether you fit our guidelines for someone who qualifies, your debt settlement expert may ask that you fax us your most recent statements from your credit card companies. We accept credit card statements that are no more than 60 days old, and this information is submitted to our underwriters to determine whether you are approved, what your monthly payment will be, and a firm estimate in terms of how long the program will last. If you like what you hear, then we'll email, fax, or mail you an agreement to sign and get back to us.

Q: Does your debt settlement service deal with debts other than credit cards?

A: Yes, we are also able to deal with medical bills, personal loans, repossessions, department store cards, gas cards, and accounts in collections. Since we negotiate with your creditors, we are unable to work with mortgages and cars because they will be able to recover the property in the event that you do not pay according to the terms they stipulate. Federal student loans also might as well be considered "secured debts" because the federal government may allow a student loan creditor to take your tax refund or levy your bank account without a judgment if you default. Since the bankruptcy law changes in 2005, even private student loans cannot be discharged in a bankruptcy in most cases. In sum, we only deal with debts where we will have sufficient leverage in order to procure the lowest debt settlement possible.

Q: Is there a minimum total debt amount in order to be eligible for your debt settlement program?

A: Yes, we only accept clients with more than $10,000 of debt

Q: How will your credit card debt settlement program affect my credit?

A; The impact of credit card debt settlement on your credit depends a lot on what your credit is like now. If your credit is good now, then credit card debt settlement will have a negative effect on your credit. For consumers who have already fallen well behind, it is possible that credit card debt settlement may impact your credit positively by paying off the accounts. Your FICO credit score is primarily based on your credit history (35% of your score) and the amount you owe (30% of your score). In a credit card debt settlement program, your credit history is affected negatively and the amount you owe is affected positively.

Q: What are some signs that I may need credit card debt settlement?

You don't have any savings.

You make minimum payments on your credit cards.

You get calls from debt collectors.

You use credit cards for things you used to buy with cash, such as groceries, gas, or utilities bills.

Your credit card debt to income is at or near 20 percent.

You have more than three major credit cards.

You lie to your spouse or other family member about your spending or hide credit card statements from family members.

After you pay your credit card bill, you increase your balance by the same amount (or more) the following month.

You're at or near your credit limit on your credit cards.

You write a check hoping that you have enough time to make a deposit before it clears.

You're afraid to look at your statements each month.

On the same token, you have no idea how much you owe.

You take out cash advances on your credit card to pay other bills.

You've been denied credit.

You've bounced checks.

You lose sleep thinking about your debt.

Your debt is putting an added stress on your marriage.

If you lost your job, you would have no ability to make your bills.