FAQ
How does NationwideDebtCare's debt elimination program work?
Our program is amazingly simple. As a client, you are
assigned a single NationwideDebtCare consultant whose job
will be to accompany you throughout the entire
elimination process. The first step is for our
consultant to get a thorough understanding of your
story. Based on each unique case, our consultant will
assist you in organizing your individual goals. With
these goals in mind, our consultant will begin the
negotiation process with the creditors.
Our
highly-trained, experienced consultant will work to
lower your debt by an average of between 40-65%.
Meanwhile, it will be the consultant's duty to keep
you completely informed of all the results of the
negotiations while serving as an advisor who will help
you choose the deal that best suits your needs.
Finally, it will be up to you to choose the debt
elimination plan that is best for you. With our
program, we negotiate successful debt elimination
plans to help you get debt free in 12-36 months.
What does NationwideDebtCare's program cost?
At NationwideDebtCare, we charge a one time administration
fee to
join our program, no matter how much debt you have the
fee is the same, and should you want to add other
creditors to the program at a later date, there is no
extra charge. Most companies will charge you a
percentage of the balance of the new creditor you want
to add to the program, or other hidden fees.
At
NationwideDebtCare we have no hidden fees. Once a deal
has been successfully negotiated, we charge 20% of the
debt saved. Many companies choose not to charge a
sign-up fee, which is very appealing at first, but
they later charge you a fee of 40-50% of debt saved.
For example, on a $10,000.00 debt, with NationwideDebtCare,
If we eliminate $5,000.00 of the debt, a normal
percentage, you would owe 20% of the
$5,000.00, or $1,000.00. Thus you would pay 1,000.00 in
total. Other companies may charge a 40% commission,
minimum, which would mean paying $2,000.00. There you
have already saved $1,250.00 to pay towards your
debts.
NationwideDebtCare has some of the most competitive prices
of all debt negotiating companies.
Does debt settlement and elimination affect my credit?
Initially, yes. In the beginning, creditors will
continue to report your account as delinquent.
However, once you reach an agreement with the
creditor, then your account will be labeled as
"Settled in full or Paid in full". This will allow
you to start from zero and begin to rebuild your
credit.
This option is much
more favorable than filing bankruptcy, will remain on
your credit history any where from 7-10 years. Once
you have finished the program, you can go through a
credit repair program to clear all the marks from your
credit history.
Can I negotiate with creditors myself?
Yes, you can. However, this is not a wise decision unless you are a highly-trained, expert negotiator like our consultants who know the ins and outs of the credit negotiating system. An individual who has no experience negotiating credit may make many mistakes which could cost them much more money. Our consultants will also be able to explain and recognize good deals. This is a very emotional time in one's life, and by using NationwideDebtCare, our clients eliminate the possibility of letting their emotions cost them a great deal that could mean the life that they have always wanted.
Are debt settlement and debt consolidation the same?
No. Debt consolidation combines many small debts into
one large debt, with the hopes of paying the lowest
interest rates possible. However, the overall size of
the debt does not change, only the interest rate.
Debt settlement involves negotiating to lower your
total debt amount-thus eliminating a large portion of
your debt.
Debt Elimination Program is the process of you saving
a percentage of what your monthly debt payments are at
the present. Then according to the funds you have in
your account, we will begin to negotiate with the
creditor. You save these funds in a separat account,
we never touch your money nor have control of your
money. Once we have reached an agreement, we will let
you know how to pay the funds to the creditors under
the terms you have agreed to. These funds are not
paid to the creditor until the creditor sends us a
settlement letter outlining the terms agreed upon and
the amount of the settlement.
Debt Consolidation is a program where you would pay
100% of the debt at a lower interest rate. This plan
works well for clients who have under $7,500.00 in
debt. How does this work, depending on your
creditors, interest rates and monthly payments, we
would create a custom plan for you, and the
Consolidation Company would then make small monthly
payments to all your creditor. There are benefits for
this again depending on what creditors you have and
the interest rate you pay at the present time.