FAQ

Q. Does your company serve clients from all 50 states?

A: Yes. We currently boast clients living in all of the 48 continental United States, as well as Alaska and Hawaii.

Q. I'm thinking of taking out a debt consolidation loan... Is this a good idea?

A: Many people see this as the best option for resolving debt. Often, the process sounds quick, with most clients expecting to receive a lump-sum check within weeks.

For most people suffering from a high debt level, a debt consolidation loan is not even an option. This is because most lending institutions require collateral levels up to 180% higher than the loan.

So, unless you have equity in your home that is 180% of your total debt, you probably don't even qualify.

If you do qualify, consider the potential threat that your home is jeopardized if you cannot pay back the loan. If you miss a number of payments, the bank merely forecloses and repossesses your home.

On the other hand, the Debt Management Advisors debt negotiation program reduces your payments without incurring additional debt. Your home is not at risk. As well, you automatically qualify for our program as long as your debt level is above $15,000.

Q: What kind of debt can I negotiate?

A: Any unsecured debts such as credit cards, credit lines, department store cards, judgements and liens, student loans, medical bills, business debt, collection accounts, past due payables, and unsecured personal loans qualify for negotiation in our program. To qualify for our program, your debt must total more than $15,000. Note: Secured debts such as home mortgages and auto loans typically cannot be successfully consolidated.

Q: Why are creditors willing to work with Debt Management Advisors?

A: Creditors are pleased to cooperate with our debt consolidation and repayment plans. In order to avoid losing all payments to client bankruptcy, most major creditors are willing to grant concessions to our clients in the form of reduced interest rates and a lower total principle, with the understanding that they will at least receive the negotiated principle back with the restructured plan.

Q. What exactly is debt negotiation?

A: Debt consolidation is the process by which we negotiate with your creditors and create a repayment plan that best benefits you. Under our program, monthly payments are lowered and interest rates are reduced - often to levels approaching 0%! This way, you save thousands of dollars in interest, and experience much shorter payoff periods.

Q. Should I consider declaring bankruptcy to avoid paying my debts?

A: If you are in the midst of a financial crisis, understand that choosing bankruptcy is a drastic option that should always be the last resort. Choosing bankruptcy can effectively destroy your credit for up to 10 years. In fact, most bankruptcy clients have extreme difficulty obtaining credit in the future. With our debt consolidation alternative, you repay your obligations at a faster rate, at reduced interest charges, without the dire stigma of bankruptcy.

Q: Can I choose which debts I want to place on the plan?

A: You may choose to put all your unsecured accounts on the our plan, or you may prefer to leave off one or two accounts (e.g. credit cards) for personal or business use.