Frequently Asked Questions in Debt Relief

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Debt relief reduces your balance. Your debt is negotiated down, and you pay less than you owe. The creditor forgives the remaining balance in a transaction called a settlement. Debt consolidation combines all of your debt into one loan with a single monthly payment, often at a reduced rate of interest. This typically requires a higher credit score for approval. 

Even though a do-it-yourself (DIY) approach might be a good option for home renovation projects and other hobbies, you shouldn’t take any risks with your debt repayment plan. Your financial situation has a long-lasting impact on your lifestyle and peace of mind. At StrateDebt Solutions, we take care of every detail of debt negotiations – helping you overcome the most significant roadblocks that are standing in the way of your financial independence. We have established relationships with over 10,000 creditors and our average negotiation rate is 50%, meaning we usually save you 50% on your debts (excluding fees). Our negotiators know exactly what to say to help each company look for solutions that support your needs — and how much you can expect to save with each creditor. We won’t stop until we’ve reached the best deal possible. 

It depends on how quickly you can build up your funds and save for the settlement offers. The faster you save, the quicker you get out of debt. It typically takes between 24-48 months with our program. By contrast, if you only make the minimum payments on your credit cards, you could be in debt for the next 10-20 years and pay back 2x, 3x, or even 4x as much as you originally borrowed. 

No, you won’t be able to use your credit cards that are enrolled in the program. Plus, creditors will usually close your accounts after you’ve been enrolled for a few months. Your debt expert will help you decide the best plan of action based on your current financial situation. 

StrateDebt Solutions program is a great choice for people with high levels of unsecured debt who are struggling with financial hardship, like a divorce or job loss. If you’re barely keeping up with your minimum payments and the balances on your accounts keep growing, then our program may be right for you. Why fight a losing battle against rising debt, when our debt relief services can help? 

We are not attorneys and cannot provide legal advice. But based on publicly available information online, bankruptcy is generally seen as a last resort and can come with harsh consequences. It may impact your credit score for up to 10 years, which means it could take a long time to recover. You can be denied employment, state licenses, insurance – even occupancy of an apartment. Plus, there’s a risk that major assets could be seized, causing you to lose personal property.

Debt relief is the process of negotiating outstanding debts, using a combination of debt forgiveness and a reasonable payment plan to help you become debt-free. Our program can help you realize a significant reduction in the amount you owe, cost you a lower monthly payment, and have your enrolled debt paid off in as little as 24-48 months. And while our program could have a negative impact on your credit score, bankruptcies can legally be reported for a longer period of time.

StrateDebt Solutions programs can save you thousands of dollars! After all, settling your debt means that the interest and fees you’re currently incurring on credit cards and other debts each month will stop accumulating. That will free up hundreds (if not thousands) of dollars for you to use to pay other bills, purchase a home, or prepare for retirement. And, the fees we charge clients for our program are more than reasonable. Clients who stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees. 

Yes! If you’re living paycheck-to-paycheck, carrying high balances on your credit cards, and struggling to make the minimum payments, you’re dealing with unnecessary stress that can affect both you and those close to you. When you enroll in our program, not only will we negotiate down your debt and help you get on top of your finances, but you’ll also find yourself free of the stress, guilt, and worry that comes with overwhelming debt. That means you’ll have time to focus on what really matters: family, career, and enjoying life to the fullest.