Frequently Asked Questions  How does Debt Settlement Work ?
Debt
Settlement allows you to eliminate debt easier, faster, and for less
money than normally required. Historically, we have been able to
save our clients up to 60 percent of their debt burden. American
Liberty Financial works with each client to set up a plan
eliminating any unsecured debt. We work out an easy monthly payment
that is affordable to you. This monthly payment will be deposited
into your debt settlement program Special Purpose Account.
American Liberty Financial works your behalf
Financial to negotiate a lesser amount than you originally owed to
the creditor. Once this amount is agreed upon and paid, the process
continues until all unsecured debt in the program has been
eliminated.
Will my creditors still keep harassing me by
phone and/or mail?
American
Liberty Financial will be working on your behalf with your creditors
and involved collection agencies. Once you have entered our debt
settlement program, we will begin to contact your creditors and
inform them of your pursuit to handle your accounts. Your creditor
may contact you for up to 45 days until the process is completed. At
that point, American Liberty Financial will be the sole contact for
your creditors via phone or email.
Why don't I just file Bankruptcy?
In most cases, financial hardship is only
temporarily, and due to some unforeseen complication in one's life
or financial situation. Many people choose to file bankruptcy
without exploring other options. American Liberty Financial
understands that being in debt is a stressful situation. We want to
make it as easy and stress-free as possible by handling your debt
for you.
There
are many detrimental consequences that can arise from filing
bankruptcy. A bankruptcy can remain on your credit history for up to
10 years. American Liberty Financial believes that bankruptcy should
be chosen only as a last resort; after all other options have been
explored.
(To understand more on bankruptcy please see the educational section of our website).
Can American Liberty Financial help with my car or home loan?
American
Liberty Financial works with unsecured debt only. Common forms of
unsecured debt are credit cards, personal loans, and accounts that
have been sent to a collection agency that are not backed by any
form of collateral. We are unable to work with student loans, auto
loans and home loans. Consult for free with one of our Debt
Specialists with questions regarding other forms of debt, or any
other special situations.
How long will it take to settle all of my debt?
American
Liberty Financial will assist you in eliminating your debt as fast
as possible. We understand that it was probably some financial
difficulty that put you in this position. Well work with you to set
up a payment plan that best fits your needs. Historically, we have
been able to eliminate our client's debt in 36 months. Of course this does depend
on the amount of your debt and the monthly payment arranged. Many
clients finish well before the program we have set due to such low
settlements.
How does Debt Settlement compare vs. Debt Consolidation?
In
a debt settlement program, clients can eliminate debt faster and for
a lesser amount than what is originally owed, thereby saving their
hard earned money.
In
debt consolidation, a person pays back in the entire amount owed
over a longer period of time. Some consider this the same as filing
Chapter 13 bankruptcy.
(For more on debt consolidation, please see the educational section of our website)
How do I know your company is a legitimate company?
American Liberty Financial is located inDelray Beach, FL. We pride ourselves in our
reputation for excellence in the debt settlement industry. We are
proud members of the Better Business Bureau, Dunn & Bradstreet
and USOBA. Links to these organizations are on our website or you can contact them
directly in regards to our standing.
If
you are within the
Southern
Florida
area, you are welcome to visit our office and meet with one of our
counselors.
Are Debt Settlement Programs a legal process?
American Liberty Financial follows procedures that have been set forth by the United States of Bankruptcy Alternatives (USOBA). USOBA has been set up as an organization that works with state and national officials in establishing rules and guidelines to follow. At this time, regulation regarding debt settlement companies are not enforced by most states, but the USOBA has put forth the proper guidelines for these companies.
Can my creditors take me to court?
American
Liberty Financial has an established credibility with thousands of
creditors large and small. Our duty is to inform your creditors that
you are working to eliminate the debt at hand. In a few cases, a
creditor may decide to take the debt to court for resolution.
American Liberty Financial program fees include third party legal
representation. Even if
a judgment is imposed, once you are a client of American Liberty
Financial and are taking the proper steps in resolving your debt,
American Liberty Financial can settle the amount owed, and resolve
the issue.
How do I know that my creditors will work with your company?
American
Liberty Financial has well-established relationships with thousands
of creditors nationwide. These relationships allow us to negotiate
and agree upon a settlement amount to resolve the debt in question.
In the unlikely event that a creditor will not settle, our
established relationship allows us to negotiate other means to repay
the debt. In this event, a hardship payment plan may be established,
benefiting you. Many creditors will tell you that they do not work
with companies like ours to deter you from working with us.
They do not want you to know what we know.
Will American Liberty Financial stop fees and interest from accruing?
American
Liberty Financial understands that late fees and interest can accrue
on an account during the time period before the account is settled.
In some instances, collection agencies have already added a fixed
amount to the debt. American Liberty Financial's program benefits a
client by negotiating debt, including fees and interest, resulting
in savings and debt elimination favoring our clients. |
