What is the cost of Nationwide Debt Reduction's program? ABSOLUTELY NOTHING!
This is probably the most asked yet least understood question asked to us at Nationwide Debt Reduction.
That is why Nationwide Debt Reduction thought it important to explain to you how "Debt Settlement" payment models work and the model that Nationwide Debt Reduction uses.However, Nationwide DOES NOT charge ANY upfront fees. Fees are only paid when the work is done per account.
Basically, there are two models in our industry right now. The first model is one Nationwide Debt Reduction uses, whereby our negotiators do not get paid until a settlement is made. It is an incentive-based program, whereby no one gets paid until a settlement is made. More on this in a minute.
Here is why we are the Preferred Debt Relief and Debt Reduction service in America
- You can become free of credit card debt once and for all.
- You can receive immediate debt relief and no more creditor phone calls.
- We negotiate and settle your debt on your behalf.
- 15 years of helping hundreds and hundreds of clients across America.
Please call us toll free at 800-890-6658 for a Free Debt Relief-Debt Reduction Consultation.
Or use our Debt Relief Getting Started form.
The second or newer model, (i.e. companies that have started up within the past 5 years), use the percentage of debt model. With this model, you pay anywhere from 12% to 18% of the total amount of debt you owe. For example, if you have $50,000 in credit card debt, and the company charges you 15% of your total debt, you will pay them $7,500, BEFORE they start doing any work for you. ($50,000 x 15%)
The first model, and the one Nationwide Debt Reduction uses, is an incentive based model in that the negotiators are only paid once a settlement is made!
For example, let's say you owe one of your credit cards $1,000. Our negotiators settle that account for $400 or $.40 cents on the dollar. The negotiator earns 25% of the dollar amount they saved you. In this example, you saved $600; therefore the negotiator earned $150 (25% of $600). The total you paid out would be $400 to the credit card company and $150 to the negotiator for a total payout of $550 of $.55 cents on the dollar.
Let us look at the same example, however this time the negotiator settles the account for $300, or $.30 cent on the dollar. In this example you saved $700. 25% of $700 = $175. Therefore, you would only pay a total of $475 or $.47.5 cents on the dollar. ($300 to the credit card company and $175 to the negotiator).
Therefore, using this first model, the more a negotiator can negotiate your debt down, the better it is for you and the better it is for them. It is a win-win situation.
That is why Nationwide Debt Reduction will always stay with this model. In addition, with our model, should you have to cancel the program for any reason, any monies in your trust account would be returned to you. In the other model (percentage of debt) you would only get any monies left over after having paid the $7,500 first.
Nationwide Debt Reduction suggests that when shopping around for the right company to do work with in helping you settle your debt, you take this into consideration. It will save you time and a lot of money over the long term, in addition to having someone paid an incentive to the best possible job they can for you.
There are no set-up fees to open an account with our program. Any other fees are included in the monthly series of payments that Nationwide Debt Reduction will provide in a quote to you. There are no "hidden fees" when Nationwide Debt Reduction makes a quote to you. The settlement fee is based on a percentage of the amount that Nationwide Debt Reduction saves you, which means that Nationwide Debt Reduction has a big incentive to save you as much as possible.
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