A. On average, a debt settlement program lasts 2-4 years for most clients. You can control how fast you complete the process dependent on how much money you apply to your program. During this process, it is important to build up your settlement account funds as fast as you can; this will always clear your debts more quickly. If you miss any payments to your debt settlement program, you can expect to slow down the negotiation process because you have fewer funds to negotiate with. Bottom line, as your account gains money, the quicker your accounts will be settled.
A. Depending on your finances and personal choices, a debt reduction plan can enable you to become debt-free. At Full Circle, the program we have developed focuses on the unsecured debts that you are carrying, such as revolving credit card balances, medical expenses or other debts that have not been secured with collateral. After successful completion of our program, those unsecured debts will be cleared. If you incur other debts along the way, this will only add to your overall debt. We hope that through working with us, you will learn to avoid new debt acquisition and maintain total financial independence.
A. As a general rule, keeping a single credit card, with a low balance and low interest, active can be helpful for emergencies. To take full advantage of our program, we advise that you enroll all your high-balance credit card accounts into the program. By enlisting several high-balanced accounts, you are showing your creditors that you are working hard at all your debt – not just select accounts.
A. If you fail to make any payments to your creditors during the program, you could be considered in violation of your agreement; hence, giving your creditors reason to legitimately report negative information to consumer reporting agencies about you. If financially, you cannot meet your payments, your credit score will be affected even if you can't maintain the program anymore. While a debt settlement program can lower your credit score, sometimes you have to ask whether getting out of debt or having a high score is more important. Clients sometimes find that paying off their debt is the first step to rebuilding their credit score over time.
A. You absolutely can negotiate your accounts. Perhaps you should ask yourself, why you haven't tried up to this point? Professionals with years of experience can often streamline the process. Full Circle Debt Relief offers consumers the benefits of years of experience and a track record of proven results.
A. Full Circle begins your negotiations on your behalf within 1 to 2 weeks of your enrollment in the program. We first reach out to creditors to inform them that we've entered into a partnership with you to reduce your debt. During this initial call, we also ask them to direct all their calls to us and not you. This will hopefully alleviate some of the creditor stress you are used to dealing with. Until you establish your settlement account and fund it properly, most creditors won't seriously discuss debt negotiations. Your settlement account proves to them that you are being serious about getting out of debt.
Once your settlement account has been funded for 6-9 months, your first settlement can be negotiated and reached. With our no advanced fee program, our clients may experience faster settlements because they aren't required to pay fees until after a settlement is reached.
A. Though rare, if a creditor refuses to work with us, our only option is to remove them from your account. We then will adjust your fees accordingly, and you won't have to pay us since a settlement can't be reached. However, through our experience, we have found that creditors welcome negotiation and debt settlement, especially when you can show hardship.