What happens to my creditors while I am in the Nationwide Debt Reduction program?
This is a very important to understand as well, as your creditors play a major role in how much your debt is settled for and if you are cooperative or non-cooperative with them. They also prefer to work with a company that is pro-active, which our debt settlement program is, rather than dormant or not pro-active.
The first thing that happens when you sign up with our debt management program is you are sent out a packet with all of your paperwork. A few things Nationwide Debt Reduction are going to ask you for are 1.) The latest statements from each of your creditors; 2.) A hardship letter from you as to why to fell into the "debt trap" to begin with and 3.) A Power-of-Attorney letter for you to sign. This Power-of-Attorney or POA as it is referred to, gives our negotiators the power to act on your behalf with the creditors.
This is an important document, as without it, the credit card companies legally will not share your information with us and vise-versa. As soon as we at Nationwide Debt Reduction receives your packet, we then contact each of your creditors to let them know you have enrolled in a debt settlement program. (This is the pro-active part of the program.) Other debt settlement companies simply do nothing until you start getting harassing telephone calls or threatening letters from the creditors that they are going to sue you or send your account to collections. You do not need those headaches.
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.
Therefore, by taking a pro-active approach with your creditors, Nationwide Debt Reduction can let them know who to contact if they have questions about your account. They then will want to speak to one of the negotiators to see what type of settlement is available. Therefore, it is very important to get your packet in as soon as possible so the work can begin in notifying your creditors where you account is now located.
In addition, instead of your money going to your creditors each month, we at Nationwide Debt Reduction will set up a savings/trust account for you with another FDIC insured bank IN YOUR NAME, not ours.You will continue to accumulate money in this savings/trust account until you have enough money for us to make that settlement.
The entire premise is that instead of paying the minimum payment (or less) each month and falling further and further behind with your creditors, you will take the money you can afford and use it for lump sum settlements with your creditors.
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