What happens after I submit my application?
- One of our certified credit counselors will contact you to help you assess your situation and develop a household budget.
- Your counselor will ask you to verify your address in order to send you a free copy of FDM's personal financial literacy guide entitled
"Your Money".
- Based on your budget counseling session with your credit counsleor; a Debt Consolidation Plan will be developed for you consolidating all of your unsecured debts into a single monthly payment with interest rate reductions negotiated with your creditors, stopping of late fees and collection calls.
- Our free"DMP" consultation is based on our best estimate to have you out of debt within five years as opposed to the twenty to thirty years it would take making minimum payments at the exorbitant interest rates most credit cards charge.
What is credit
card debt consolidation?
A process where we utilize our relationships with creditors to provide
you with one monthly payment, lower interest rates, and the elimination
of late or over limit fees. This enables you to save thousands
of dollars as well as years of payments. 
Do I have to
have good credit to qualify?
Good or bad credit, as long
as we have relationships with your creditors and you are able to make
a monthly payment towards your debts we can qualify you for our consolidation.
How long will
it take to pay off my debts?
This depends
on your mix of creditors as well as your monthly payment. Most creditors establish payment guidelines to have you debt free in 5 years or less.We do not
charge a prepayment penalty either. Any additional funds you send will
be applied directly to your principle and will result in you saving
even more money on the reduced interest charges.
Do you provide
loans?
No we do not provide loans. Why rob Peter to pay Paul? We provide a debt consolidation service
which will allow you to satisfy your current debt obligation by consolidating
and without incurring more debt.
Can debt consolidation
help to improve my credit?
Yes! By
reducing the amount of debt you owe, known as your debt-to-income ratio,
can help to make you more appealing to the lenders. As well as
if you are behind in your debts re-aging of your accounts will show
you as current once again.
What type of
debts can you include in consolidation?
Almost
any unsecured debt can be included. Credit cards, collection accounts, personal loans,
medical bills, IRS, old utilities, as
well as other unsecured debts.
Can you consolidate
things like a home mortgage or a car loan?
No, we work only with unsecured debt. Unsecured debt is not backed or
underwritten by an asset like a home or car.
Do I have to
include all my debts in consolidation?
No. With
our company you have the ability to tailor the consolidation that fits
your needs best. Unlike others we do not mandate which debts you
include
Will my creditors
continue to call once I start my debt consolidation?
No.
Once we process your consolidation they will stop calling you and deal
with us directly. The only contact you should have is monthly statements
from them showing your balances dropping as we accelerate you out of
debt |
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