The Top Most FAQs Made to Start New Financial

Start New Financial provides you guidance and answers to the most FAQs on debt relief. All your inquiries are so important to us, so call us TODAY with yours!

The following are the most popular and common questions we often receive from consumers with debt regarding Debt Relief, Debt Consolidation, and Debt Settlement program services.

What is Debt Relief?

Debt relief is a restructuring of debts or complete dissolvement of an individual, business, or even an entire country’s debt that is owed to a creditor or lender. Debt relief is meant to benefit the debtor in helping make the debt(s) easier and more feasible to eliminate.

Also seen as a term used to describe a country’s debt, it extends much further. An individual, business or even a whole, independent country can accumulate debt that could become unmanageable or too burdensome or unrealistic to their resources.

Debt relief has evolved to become more personalized and include an actual individual, rather than just a governmental entity matter. The reorganization or even forgiveness of debt may apply to either an entity or individual. Still, its main concern or objective is that of lifting the burden of an oppressive debt weighing down the debtor’s financial freedom.

What is a Debt Resolution program?

Debt resolution can be called many different ways such as debt negotiation, negotiated debt settlement, or even debt settlement. No matter how you call it, it’s the process where an individual or company negotiates or settles unsecured debts with a creditor or a debt collector.

There are two main goals that a debt resolution company has when negotiating with your creditors:

  1. The reduction of the money you owe.
  2. Settling the debt ASAP and faster than if you tried to pay it off on your own.

Creditors have come to realize that an individual that is facing financial hardship may never be able to pay off their debt, or even worse, may decide to file for bankruptcy. The debt resolution process is really standard for creditors; they are willing to settle debt for a lesser amount of what is owed than to receive nothing at all.

How do you qualify for Debt Relief?

For an individual who is seeking to improve their financial situation, there is no set standard for qualifying with Start New Financial for debt relief, as credit counseling services are available at no cost.

Once you enjoy your free consultation, without any obligations, it is your decision whether you wish to proceed with a debt management plan. At this point, the qualifications for our agency to assist with the process of the program is that the following certain items must be in place:

Hardship has been established, you are in need of our services, and you wish to enroll in our program. For any debt to be included in the repayment program it must be unsecured. You must have the ability to make a consolidated monthly payment. If the debt is under $1,000, we will advise the consumer how to pay it off on their own.

Who is best suited for a Debt Resolution program?

If your accumulated unsecured debt is $10,000 or more and you want to reduce your debt without having to declare bankruptcy, then debt resolution is the right choice for you. It is the right option for you if you can’t pay your debt within two to four years. Debt resolution would put you on the path to financial freedom.

What types of debts can you help me with?

Start New Financial can help you with many types of debt. Some of these include credit card debt, medical bills, department store cards and many other types of unsecured debt. The key word is UNSECURED debt. With any sort of debt that includes collateral such as an auto loan, a mortgage or federal student loans, we unfortunately cannot help you with. There are some exceptions where we will help with private student loans and some types of business debt, but these are decided on a case-by-case individual basis.

How does a Debt Relief program work?

First and foremost, our debt management programs always have the consumer’s best interest at heart. Once you receive a free counseling session, we will be equipped to best determine your specific needs to resolve any debt issue you may have, because we will have thoroughly reviewed your entire financial status. Start New Financial will provide you with guidance and free financial resources to decide the best course of action for resolutions. We address remedial issues and establish a workable household budget that is comfortable, convenient, affordable, sustainable, and realistic for you.

Once it is identified that a debt management plan is a workable best solution, we next explain how the plan works:

All debt accrued, including credit card debt, medical bills, and unsecured debt will be consolidated into a smaller monthly payment that will be offered to the creditors that they accept our proposal.

Any credit account that is open or is a revolving line of credit will be closed to cease further charging and will be paid off in an expedited manner.

In order to pay the total debt as quickly as possible, the overall monthly payment always remains the same even as accounts enrolled in the program are paid off and closed. Typically, the additional funds are distributed to the next account with the highest interest rates or the next balance account. This repeats itself until all accounts are paid and closed and you finally are debt free. Start New Financial is performance-result-based and thus receives no upfront fees; we are only rewarded with a reasonable percentage of a debt account when it is paid off and closed.

How will a Debt Consolidation program help me?

Our Debt Consolidation program works with your creditors to help pay off your debts as for much less and as quickly as possible, much faster and cheaper than if you were paying it off on your own. Our Debt Consolidation program does not consist of a loan. We simply combine your debts into one reduced monthly payment, lower your interest rates and eliminate any late payment fees. At times, we even eliminate the interest altogether.

What types of debts can I consolidate?

The following debts may be included in the Debt Consolidation program: credit card debts, department store debts, medical bills, finance company debt, or any type of unsecured debt. Some debts that are excluded or banned from being included are: mortgages, car loans or any other type of secured debt that has collateral or a co-signer attached to it.

Can I pay more than the set minimum Debt Consolidation payment?

If at any time you would like to pay a larger monthly payment on your debt than the agreed-upon amount that was set in your program plan, merely contact us and we will restructure your payment plan to start off paying a larger amount on your debt that will lead you to financial freedom even quicker. We are always here in solidarity with you only to help you resolve your debt problems in the most efficient way possible that best benefits and pleases you the most.

Is Debt Relief really a good idea?

The best option for relieving the stress of indebtedness while avoiding bankruptcy is debt relief – unless, of course, you hit the lottery and are able to instantly and completely pay off all your debts at once. It is 100% that debt relief programs will effectively and efficiently help you pay off your debt within five years or less – obviously dependent upon the enormity of total debt. Paying off your debt rids stress and brings peace, because it means that less of your hard-earned money will go towards becoming interest money that lines your creditors wallets and instead be used for/on you yourself and your family, on other personal priorities in your life. Whether you choose to pay off your debt on your own or obtain the guidance of a third party such as yours truly, paying off debt means wonderful financial freedom. Debt relief will always be a great idea regardless of the means/program you select to accomplish your goal of becoming debt free.

If you are paying interest rates of 20% or higher following a period of overspending, and are dealing with overwhelming repayment expenses and general expenses, then seeking trained, professional assistance, that is expert and experienced, is a great idea. These programs will help you lower your interest rates to single digits, leading to a more manageable monthly payment that is convenient and comfortable for you, and breeze you to achieve freedom from debt in less than five years.

If you have more than sufficient income to satisfy your minimum monthly payments, then seeking the assistance of a third party debt relief may not be a good idea. Creditors will be less likely to provide lower-interest-rate concessions if they realize that you are not overwhelmed by your debt, that you do not suffer from financial hardship in that your budget allows you to easily make higher monthly payments. Any private or nonprofit programs will assist with credit card debt, medical debt, department store cards, cell phone bills, old utility bills, and other types of unsecured debt accounts.

What is the best Debt Relief program?

Some of the following options are the best approach that lead consumers to a debt free life:

First, you must consider if debt settlement would be the right fit for you, especially when dealing with collection accounts. You may try to pay off debts on your own, obtaining consolidation loans or balance transfers, while negotiating with your creditors. You can also consider to work with a nonprofit consumer credit counseling agency to help settle your debt. A final approach would be to speak with a bankruptcy attorney as an extreme option.

To minimize paying out fees to others, paying off debts on your own should be your first option. A credit counselor would be the next choice if you lack the knowledge of negotiating lower interest rates and repayment terms with your creditors. The following is support for this recommendation.

If, as an individual with a steady income, you have already tried to work directly with your creditors with no success, then a nonprofit program will offer great guidance assistance where you should pay off your debt within five years.

What is the difference between Debt Relief And Debt Consolidation?

Depending on who you’re asking, the term could have various meanings. In a debt relief program, a credit counseling agency (CCA) negotiates with the consumer’s current creditors to lower account interest rates. This will effectively lower the required monthly payment, and at the same time will accelerate the debt freedom timeline.

These debt relief programs are referred to as debt consolidation programs because the CCA will only require one monthly consolidated payment, instead of a variety of payments for each account, and is managed through the debt relief program.

Debt settlement or debt negotiation programs attempt to lower the amount of debt owed to creditors – this is why some consumers may think of this as Debt Relief. These types of debt negotiations lead to a negative rating on a consumer’s credit report and should simply be called debt settlement or debt negotiations to differentiate them from debt management, credit counseling, or debt relief.

Many consumers may think that debt consolidation is obtaining a new loan to pay off other debts while requiring a single monthly payment to the new lender. This should be considered as a debt consolidation loan for debt consolidation.

Do Debt Relief programs work?

In order for these programs to work, they must coincide with the debtor’s financial obligations and resources. A program done through a nonprofit credit counseling agency has been shown to be effective at lowering monthly payments by negotiating with creditors to reduce interest rates, and leading to debt freedom within five years or less. These types of programs would be best for individuals or households that have a steady income and are still struggling to meet their monthly debt payments.

For individuals or households that are recovering from a period of unemployment and have survived with the use of a credit card, a debt relief program has been shown to be effective.

An individual or household that has been through financial difficulties and any medical challenge will be alright once the income provider is employed and the bills are no longer accumulating. If, as an individual or household, you have been placed at the mercy of collection agencies, then debt relief programs work well with you. Debt relief programs will work with collection agencies so that the full payment of your debt will not be immediately due, and will be done in a period of one or more years.

One of the main requirements of a debt relief program is that, as an individual or household, you are required to make a monthly payment. A debt relief program will not meet your financial needs if you do not have a steady income.

Who is in charge of the Dedicated Savings (Escrow) Account?

Once you have enrolled in a program, you will set up a Dedicated Savings Account under your name and deposit your money into it. That money is always yours and you control it and the account. Setting up this new account will separate your settlement funds from regular savings. If you ever choose to withdraw from the program, all the funds in the Dedicated Savings Account are yours, minus any banking and earned settlement fees.

What are Start New Financials Fees?

Start New Financial fees are based on performance after the act of settling your debt with your approval and satisfaction. In other words, there is no cover charge or upfront fee. Our fees will be included in your monthly program payments that you deposit into your FDIC-insured escrow account. Additionally, you will not be charged until your debt has been settled and at least one payment has been made to your creditors under the terms of settlement. Our fees vary from state to state and depending on the amount of debt. To obtain more complete information, please contact our debt consultants.

How soon do you start working with my creditors?

One way of proving your commitment of paying off your debt is to accumulate enough money into a Dedicated Savings Account. Most creditors will not discuss debt reduction with negotiators until they are certain of your seriousness to pay off any debt.

From our experience, the first settlement will tend to happen within the first four to six months of the start of the program.

When will I have my debts paid off?

The more money you can add to your Dedicated Savings Account, the quicker your debts can be settled. On average, debt resolution programs last two to four years and may vary from person to person. Debt payment may start when you have accumulated enough funds in the Dedicated Savings Account to cover the amount of settlement. How long the program will take will be determined by the amount of commitment you place on becoming debt free.

Debt resolution programs can be stalled if you miss a payment toward the program. Keep in mind that if you miss a payment, there will not be enough funds in your Dedicated Savings Account for the negotiations to take place.

How long will my Debt Settlement program last?

At Start New Financial, we offer programs that can fit any budget and can eliminate your debt in as little as 18 months. This will depend on the amount of debt that you have and the amount of funds you can save monthly. We are here to work with you and devise the best plan that will address your needs and objectives specifically.

CALL START NEW FINANCIAL FOR A FREE ANALYTICAL REVIEW

There are many forms and variations of borrowing to consolidate debt, some of which include an IRA Loan, Annuity Loan, Bank Personal Loan, Credit Union Personal Loan, Peer-to-Peer Lender Personal Loan, PayDay Loans, Finance Company Loan, Home Equity Loan, Home Equity Line of Credit, 401(k) Loan or even a Note loan. All of which will be explained to you by a certified loan expert from Start New Financial, giving you the best guidance to quickly manage your debt and become debt free.

What happens if I end up missing monthly payments? Am I going to be kicked out of the program?

The facing of unforeseen issues can affect the most organized or punctual person on the planet, and so this will not be a reason to remove you from the program. We are here to help you resolve your debt issues, and that includes always being with you for every challenge and obstacle.

If, for any reason, you know ahead of time that you’ll be having difficulty making a payment, just let us know at least five business days in advance, so that we have time to make other arrangements to cover you. Simply give Customer Service a call and we will find a way to get you back on track.

Building up the amount of money in your Dedicated Savings Account is the most important part of settling your debts. Just keep in mind that missing a payment may delay your debt relief program progress and you could also miss out on a settlement.

Can my Debt Settlement program be accelerated if extra funds become available?

There are no prepayment penalties for getting out of debt early. Many consumers get out of debt earlier than expected after securing enough funds for negotiation. All negotiations on your behalf will commence once there are enough funds in your Dedicated Savings Account to entice your creditors.

How does a Debt Relief program affect ones credit?

For more than two decades, the FICO credit scoring model has not included participation in a credit counseling program as a direct factor to affect your credit score. The following are four possible indirect effects a repayment program might have on your credit:

Directly working with creditors, a repayment program works to make monthly payments more manageable, even if you have gone over your credit limit or have missed a payment or been late on a payment or two. Most credit card and store card creditors will agree to reporting your monthly payments being made on time rather than late, and this will happen within one to three months. The most significant portion of the FICO scoring model will see the positive changes in your account status and this can only improve your credit record, the positive history of payments being done on time.

Some creditors may place a notation on your credit report of your involvement in a repayment program. This can be positive or negative, depending on who you ask. Credit counseling professionals, and most of their clients, will consider this as positive action as it minimizes the likelihood of the client getting into debt impulsively while in the program. What it really does is notify potential lenders of your involvement in the repayment program, which must be completed before taking up any additional credit. This notation has absolutely no effect on your credit score. The notation can only be a nuisance for clients trying to take up additional credit while enrolled in the repayment program. Many creditors, such as auto lenders or mortgage companies, will disregard the notation as long as the consumer’s payments have been made on time for at least a year and a half.

Once an account has been enrolled in the repayment program, it is closed to further credit activity. Closing an account should have no effect on the consumer’s credit rating; this will depend on the account’s status prior to being placed in the program. An account closure may not influence the consumer credit rating, even if it was maxed out prior to closure. On the contrary, it may have an initial effect on the second factor in the FICO credit scoring model: balance-to-credit limit ratio.

Finally, any negative impact of a closed account can be outweighed by the positive effect of having lower balances. Throughout the program, as the consumer pays off the debt balance making on-time payments, this will show on their recent credit history. After completing the program, many of our clients have credit scores in the top 10% of all consumers.

How could a debt resolution program impact my credit?

Whether your credit is maxed out or you have a high debt-to-credit or debt-to-income ratio, chances are that your credit score is on the low end. Most clients credit is already being negatively impacted by poor payment history and amounts owed, which are the two largest factors that make up a credit score.

Everyone’s specific credit situation is different, but in general, enrolling in any debt resolution program could impact your credit score. Our main objective is to help you resolve your debts as quickly as possible, so you can have peace to start building a bright financial future. As you know, higher credit scores will fall much faster than lower ones, so in the short term the impact could be negative. You must think of the long run in restructuring your financial future.

The good news is that the credit effect could be much more positive; once your debts are resolved, you can practice positive credit behavior to build your credit score back up over time. While taking one step back with your credit score, you’ll take five steps forward with resolving debt and having your life back, organized.

How does Debt Relief affect your credit?

When enrolled in a debt management plan, the initial response shown on your credit report may be adverse due to the requirement of the accounts being closed. Nonprofit credit counseling organizations typically offer consumer programs that are designed to help an individual overcome their debt. As your accounts are paid on time and in full, your credit score will improve and increase as your balances are reduced.

What happens if one or more of my creditors won’t budge on a settlement?

If one of your creditors refuses to settle, then you have the option of removing the creditor from the program. Your fees will be adjusted if a settlement cannot be reached. This will only be an extreme case.

Can Debt Relief help remove stress?

Debt Relief obviously will not remove all the stress in your life, but it will give you peace and ameliorate the stress caused by the overwhelm of the outstanding, unmanageable debt burden. The common thread uncovered relates to how unhealthy owing great sums of money can be, and the stress-related issues that can arise from it. Over the last several decades, the damage of debt upon an individual has been explored by many organizations, doctors, nonprofits, authors, and more. Once you put this together with a lack of financial education in schools all over the world, you have the perfect recipe for disaster within the financial economy.

Looking into the American culture where you simply learn to spend and consume, without the adequate financial education, our youth will grow into adulthood without the knowledge and resources that are needed to control their finances and build them into lasting wealth.

When counseling is provided from a prominent resource that has the consumers best interest as its main goal, obtaining advice with finances can be very successful. The long term benefits will be visible when the right counseling is provided. The right program will teach you how not to fall into a vicious cycle and prevents the same situation from occurring again. Therefore, when any monetary relief is realized, it will continue to provide resources to guard against recurrence.

Once you have the resources aimed at taking future preventative measures, it will typically work as long as you have continued followups. This has been shown to work, following remedial or a holistic approach.

What about calls from collectors? How should I handle them?

Our most successful clients choose to let calls from unrecognized numbers go to voicemail. The hiring of collectors by creditors is done to pressure you into paying as much as they can get, and the collectors receive a percentage of any money collected from you. Collection calls are a natural part of debt resolution programs, and actually are a key indicator that your debt resolution program is being effective. Free apps are available for download on a smartphone that will block certain types of calls.

You have rights against collection harassment thanks to federal and state laws. When answering one of these calls, let the collector know that you know your rights and that you are currently working with professional negotiators, and they should be contacted. Let the negotiator know the agency that contacted you, so they can follow up with the agency. All creditors looking to receive payment should be dealing directly with your negotiators, and any call or even an email from them should go through the negotiator. Within weeks of your being in the program, the creditors and collectors will know all this and get with the program, letting you be.

How does Start New Financial provide Debt Relief?

Start New Financial has many programs and finds the best solution to fit every client’s specific overall financial and personal status relating to their debt problem. Once we identify the best fit, we individualize the program to the client. We have provided credit counseling to thousands of consumers for many years. We’ve helped consumers, perhaps like yourself, not only overcome their current debt-related issues but to educate them with the tips and knowledge to prevent the predicament from ever repeating itself. The reality and truth of the matter is that, once we’ve counseled an individual and aided them in fulfilling their debt obligations, we never want to see them again unless it’s to provide additional educational materials, even if it may sound harsh. It’s our goal, our vision, and what we stand for. The reaction of pure relief and thrilled joy of our client families the moment they become free of their debt burden is absolutely priceless for us! It’s what we love most about our mission and what makes it all so rewarding.

We have excellent working relationships with thousands of creditors, many of whom share the same agenda of having an educated consumer who will successfully manage their future finances, without the need of any additional third-party help.

What type of debt can Start New Financial help me with?

We mainly work with unsecured debt, debt that doesn’t have any collateral attached to it. An unsecured debt may include any credit card, department store card, or medical bills to name a few. Debts that are secured by having collateral attached to them, such as car loans, mortgages or students loans, are not eligible for debt resolution. Please give us a call for your FREE phone consultation, so we can advise on which of your debts are eligible for debt resolution and what your best solution will be.

How does your Debt Resolution program setup through Start New Financial work?

The following is an overview of our process. Your Start New Financial account executive will walk you through each step with more details.

  1. One of our account executives will customize a negotiation strategy individually-based on your type of creditors and debt amounts, once you are enrolled in the program. Your program will be designed to minimize your debt and maximize savings, reduce overall spending, and obtain freedom from debt for you as soon as possible.
  2. The next step will be to open an FDIC-insured Dedicated Savings Account (aka an ‘escrow’ or ‘settlement’ account) that you fully own and control at all times. All your monthly deposits/payments will be saved in this account to build up the savings that will be used to pay off your creditors to eliminate your debt. This will be the sole purpose of your Dedicated Savings Account.
  3. Your Start New Financial negotiator will do all the footwork contacting your creditors for negotiations to resolve your issues as quickly and economically as possible. At this point, you must not use the credit card or loan that the program is addressing – you must not continue to add to the debt(s) enrolled in your program. A good strategy is to not speak over the phone with your creditors since all negotiations should be done through your Start New Financial Account Executive.
  4. When a settlement is reached with your creditor that you are pleased with and approve of in writing, the necessary funds from your Dedicated Savings Account will be sent to them, ending your debt to them. The payment may be a single payment or consist of multiple payments over a period of time (payment plan). When the settlement is finalized or complete, your debt to the creditor will be considered resolved. Only then will the debt resolution service on this debt will be complete. This is when Start New Financial receives a fee from you from your Dedicated Savings Account, but only once there is mutual agreement upon a settlement, you’ve made at least one payment towards the settlement, the settlement has saved you money and you are completely satisfied with it.

Can you settle credit card debt if you are still current?

The most effective way of getting creditors to negotiate a debt settlement is to show that you are currently going through financial hardship. It is possible to settle credit card debt while being current with your account, but creditors will be less likely to negotiate a reduction of its total amount since you are current with your payments. Most creditors will not be willing to accept less than the full amount of the debt if your account is up to date. Whether you chose to obtain the assistant of a debt settlement company such as Start New Financial or you decide to resolve debt issues on your own, your best bet will be to show that you are going through financial hardship. Once your creditors know that you are having payment difficulties, at that point they will be willing to settle the debt for a lesser amount as a final settlement.

Will I still be charged interest and late fees on my debts?

While you’re getting your Dedicated Savings Account set up and funded, your credit card debt could go up. However, the goal of the debt resolution program is to arrange settlements that reduce your total debt balances no matter what kind of interest charges or late fees were added when you began our program. Any time you miss a payment, credit card companies may charge you interest rates, but that is resolved as part of our debt settlement program. Our mission is to resolve your debt issues while saving you as much money and time as possible and having you completely satisfied with our services.

What happens if my creditors take legal action against me?

Even if a creditor chooses to pursue legal actions, you would simply send any inquiry to our Start New Financial service team so we can prioritize this particular creditor or lender and work towards settling that debt first.

The most common action taken by a creditor is selling your debt to a third party collection agency or law firm. If this ever happens, the creditor or lender is moved by us to a priority list.

Our settlement negotiators will attempt to resolve this creditor or lender’s account setting up a unique payment plan, and that’s in case a lawsuit is filed against you. Which is very rare.

Note: We cannot offer any legal advice since we’re not a law firm.

Should I include all of my credit cards in the program?

In order for the program to work with the most benefit for you, all credit cards with a balance greater than $500 should be included. Having an open credit card will make it difficult once the creditor sees that you are settling some accounts and not others. On the other hand, if you have a low balance credit card with a zero balance, you may hold on to it for emergencies.

Am I going to owe taxes on whatever debt was forgiven?

In general, forgiven debts can be taxable when it comes time to filing taxes. Your creditor will forward a Cancelation of Debt form (1099-c) showing that they have forgiven you for certain debts.

While the answer can be different for everyone, in general, forgiven debts can be taxable. When tax time rolls around, you’ll likely receive a Cancellation of Debt form (1099-c) from the lender who forgave your debt.

To understand the potential tax implication of any debt forgiven through a debt relief program, it would be best to speak with a professional tax advisor. Remember that all individual cases carry a specific situation.

Do all my debts have to be included in my Debt Settlement program?

Your Start New Financial debt advisor will fully guide you through the entire enrollment process, highlighting all advantages and disadvantages of leaving out a qualifying debt. We strongly encourage that all qualified debt be enrolled into the program in order to enhance the benefits of the program’s complete success.

What is different about Bankruptcy and Debt Settlement?

Bankruptcy is also known as the last resort option. It will limit your ability to function freely in a financial type of sense. For starters, filing for bankruptcy will stay on your credit history and appear on your credit report for about 10 years. It often creates a lot of different discriminations against you, such as you might be denied employment, insurance, state licenses, and even keep you from renting an apartment because of it. With a bankruptcy filing on your credit report, obtaining any type of credit will be a very long shot for quite a very long time.

When you file for bankruptcy, you will not be allowed to discharge alimony, child support, student loans, or any loan on the bankruptcy petition. Recent changes to bankruptcy laws have made it much harder to qualify for Chapter 7, the bankruptcy option whereby the Court has your qualified assets liquidated to pay off your debts. Under a Chapter 13 bankruptcy, your debt payments are simply restructured to your income, meaning you will still have to pay a percentage of your debts while you suffer the consequences of bankruptcy. Debt settlement is the much better alternative to filing for bankruptcy that prevents a bankruptcy. A licensed attorney is the only one who can provide you with advice and guidance specific to your situation relating to bankruptcy as opposed to debt settlement, since it is a legal court procedure.

Will I be totally debt free when I am done with your program?

Enrolling into one of our debt settlement programs will put you on the right track to financial freedom, but our program only addresses unsecured debt, such as credit card debt, department store cards, and medical bills. We give you the guidance necessary to succeed with our program. After completing our program, you can save to pay off your secured debt. The most important factor determining your success is sticking to the program and following our guidance.

Will I have to take out another loan to cover my current debts?

Your settlement will be funded through the Dedicated Savings Account you establish with our guidance and instructions.

Our debt reduction program is not a new loan. Some of our clients use a loan in conjunction with our Start New Financial debt relief program, but most fund their settlements with a comfortable monthly deposit into their Dedicated Savings Account. That being said, we do have a relationship with a lending company. Some of our clients, who demonstrate a consistent pattern of saving their monthly draft amount on time, may be eligible for a loan from this lender to pay off one or more of their settlements. This is not something that is required of any Start New Financial clients.

Do interest and late fees accrue on my accounts?

Our goal is to negotiate substantial reductions to the balances on your accounts, even after the interest and late fees have accrued. Your balances will increase until a settlement has been accomplished on a debt, and this is regardless of whether or not you make your minimum payments. Start New Financial also guides and helps in arranging that any transitional payment towards your settlement go straight into the estimate of service. Always keep in mind that once your account becomes delinquent, your creditors will continue to add interest and late fees to your balance. Our mission is to negotiate a substantial reduction to the balance on your account, regardless of whether the interest and fees pile up. Our fee remains the same no matter how much extra fees or interest is added to your account.

Call Start New Financial TODAY and we will answer any and all other inquiries you may have and you’ll also have the opportunity to start your journey to a bright, debt-free future of peace and happiness. You’ll also feel as if you’re wealthy because you’ll always have plenty of money left over to do you, something you hadn’t been able to do in eons. Cheers!

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