Aug/100
Debt Help Center – A Settlement Company
Debt Help Center USA is a settlement company based in San Francisco, California. They work with consumers to negotiate settlement plans with creditors. They claim they can reduce payment amounts by 40-60% and help consumers be completely debt free in 12-36 months. Debt Center USA only works with unsecured debt such as credit cards, personal loans, medical bills, store cards, repossessions, and back rent. They do not negotiate car or student loans, mortgages or IRS tax liens.
The Debt Center USA Plan
Consumers set up a free consultation with one of the company’s senior debt counselor. The form asks for contact information and the amount owed. The consumer must have at least $10,000 in unsecured debt to qualify.
A consultant will review the information to decide if the program will fit the needs of the client. If so, he will customize an individualized program for the client.
Debt Center USA will figure the estimated settlement amount for each creditor. Each individual debt must have at least $1,000, and the total amount of consumer debt must be at least $10,000, but the debt does not have to be past due.
The consumer opens up a separate bank account that he controls to deposit funds in specifically to pay off the debt.
Debt Center USA contacts creditors and directs all communication away from the consumer to the Debt Center. This limits the amount of contact the consumer has with the creditor and allows him to focus on saving to pay off the debt. The company negotiates on behalf of the consumer to settle debts. Consumer must make consistent monthly deposits in the savings account in order to be successful in the program.
Once a settlement with a creditor has been reached, Debt Center USA will send the client notification for approval. The consumer sends the agreed upon settlement amount from the bank account to the creditor. Creditors will send a paid or settled notification to the credit bureau. This process is repeated until all the debt is paid.
Cost of the Program
The cost of the Debt Help Center USA program is not free for the client. The fee is based on a percentage of the consumer’s overall debt. It is paid in 30% incremental stages in the process of the program. The last 10% of the service fee is earned upon completion of the program. Funds are received through electronic funds transfer from the consumer’s bank account.
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