Step-by-Step Debt Settlement

Debt Negotiations

You should feel positive, comfortable, relieved, and confident in Common Cents Credit Solutions’ ability to deliver the most cost-effective debt settlement resolution plan for you. Our step-by-step program offers debt negotiations and debt settlement for the Phoenix, Arizona metro area. Please read the information below, which details what you can expect from entering a debt settlement program with Common Cents Credit Solutions and its affiliates.

Step One: Initial Debt Consultation

We will provide a free consultation to discuss the positives, negatives and total costs of each debt relief alternative and to determine which solution is best for your circumstances. You will briefly describe your personal hardship situation and budget concerns. If you qualify for debt settlement, we will develop a quote based upon the amount you owe and your monthly budget. Your customized quote will indicate the minimum amount to be saved each month, an estimated amount you will payback, and be all-inclusive to cover any program costs. Prior to starting the savings and settlement plan we will provide full disclosure about how the debt settlement process works, otherwise it will be difficult for you to be successful.

Step Two: Enrollment for Debt Settlement

After qualifying, you will pick a due date and begin saving the new monthly amount we established in your quote. You will be sent a contract that will outline the program, show your savings schedule, and fully disclose all program costs. Upon reading over the contract and agreeing to all terms, you will send it back along with a copy of each creditor’s most recent billing statement and picture identification. Once we receive your completed paperwork we will schedule your welcome and verification call. We must ensure that all aspects of the debt settlement program were clearly presented to you before we begin to make any drafts from your checking account. Remember, debt settlement is a process, and we must carefully make sure everything is in order…one false move or quitting the process may make your debt and/or personal credit situation worse.

Step Three: Meeting Your Debt Settlement Coach

After you are enrolled into your Savings and Settlement Plan, you will be assigned a settlement coach — your main point of contact for the program. Your settlement coach will discuss the objective of your savings plan, how it is used to settle your accounts, the effects this program will have on your credit report, as well as the different methods creditors and collection agencies take when trying to collect on your accounts. To the best of their abilities, your settlement coach also will assist you in attempting to reduce harassing creditors’ calls. Obtaining an agreement to work with us is not the hard part; often, it’s the abusive or deceptive collection efforts that make this program difficult on our clients since creditors are not approached immediately.

Step Four: The Debt Settlement Payback

Each month you will agree to have the quoted monthly dollar amount electronically transferred from your personal checking account into an FDIC-insured third-party trust, which you control, to safely hold your funds. Month after month your savings will begin to grow while waiting for the appropriate time when your settlement coach will approach your creditors to initiate debt negotiations.

Your settlement coach will advise which creditors are willing to accept your offers. These offers may vary from a lump-sum settlement made in one payment, or a term settlement made in several payments. As you agree to these offers, you will authorize the debt settlement and send out your saved funds to complete each transaction, satisfying each delinquent account on your credit report.

The key to success with a debt settlement program is patience. Upon following the savings and settlement plan with the help of your settlement coach; you will gradually pay back or settle with each of your creditors one by one. After the settlement is paid, the creditor is required to update your account status as paid to the credit bureaus. The completion of our program should have an overall positive impact on your life, allowing you to rebuild the foundation for credit opportunities in the future.

Common Cents Credit Solutions specializes in credit card debt settlement, debt counseling, debt management services, and debt negotiation with customers in Phoenix, Chandler, Mesa, Gilbert, Queen Creek, Tempe, Arizona, Common Cents is committed to offering the right solution through personalized credit counseling and professional debt settlement, to get you out of debt. Offering alternatives to personal bankruptcy (chapter 7 and chapter 13), debt consolidation, credit counseling, and credit card consolidation.