SA Pros Local Professionals: Your Experts
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Debt Solution
FreedomDebt.com
6709 Bandera Road
San Antonio,
TX
78238
(210) 520-2100
Hours of Operation
- Monday - Friday7 a.m. - 7 p.m.
- WeekendsBy appointment
Credit Card Debt Help
Since 2002, FreedomDebt.com has helped tens of thousands of people struggling with debt. Our programs negotiate settlements on the principal balance of unsecured debt, which includes credit cards, medical bills, signature loans, and other debt that has no property attached to it. Vehicle loans and mortgage loans can only be included if the property has already been foreclosed or repossessed.Our programs are typically about 24-48 a months, depending on an individuals situation and their needs. The monthly savings can be up to half or more of what someone would pay verses making minimum payments.
Here is a summary of how our programs work:
First your debt professional trained debt consultant will evaluate your situation and complete a debt analysis. If you qualify for debt settlement, will work with you to determine a monthly plan payment, estimate the length of your program and prepare your agreement. You will be able to set the date of your monthly draft which can be from a checking or savings account.
Once your agreement is received, it is sent for final approval. After you are approved you will receive a welcome call to confirm that you completely understand the program and have no unanswered questions.
Depending on your program and creditors, your creditors may or may not be immediately contacted after you are enrolled. You will receive a welcome packet with important information on what to do if a take a call from a creditor and there may be some additional information you will need to provide and send back.
As money accrues in your special purpose account, accounts are negotiated and settled one at a time. You will receive notification each time an account is settled and when all accounts are settled, you will receive a graduation package with copies off all settlement letters provided by the creditors, as well as other valuable information and resources.
Frequently Asked Questions
- How do your programs work?
- Our programs use a process called debt negotiation or settlement which is a process of negotiating a reduction in your principal credit card balances. Negotiations are done by a company or licensed law firm, depending the state you live in.
- How do I qualify for debt negotiation?
- You must have $7,500 or more in unsecured debt. There is no cap as we have had clients with several hundred thousand in credit card debt alone. Unsecured debt typical credit cards but can also include medical bills and most loans that are not tied to collateral. Our programs cannot negotiate car loans or mortgage loans because the lender can reposes the car or foreclose on the property. We can help you if your car or home has already been reposed or foreclosed and you are left owing the bank money which is called a “deficiency balance.” We cannot help you with student loans because they are usually secured by the federal government.
Also You must be in a financial hardship. This could be a range of circumstances. Some of our clients have experienced a job loss or other reduction of income, a medical condition or even just unable to afford to pay off the credit cards because of rate and payment increases. Some of our clients have to struggle just to make minimum payments, they always carry credit card balances and borrow from one to pay another, and some may already fallen behind. You can enroll whether you are current or behind in your payments. - How much will I save?
- Historically settlements are between 40-50% of the balance at time of settlement, excluding fees. Completion of our programs will save you a tremendous amount of money compare to what you would spend paying your debt back in full, plus interest year after year. Click on our settlement page to see examples of recent settlements.
- What will my payment be?
- We design a settlement savings plan that balances getting you out of debt as quickly as possible with a payment you can afford. Your savings may be as much as 50% of what you would be making compare to minimum payments. Factors that determine your payments include your credit card balance, the creditors you owe and your budget. Your debt consultant will do a debt analysis and determine what your what your settlement plan payment will be?
- How long will my program be?
- We design a plan that balances getting you out of debt as quickly as possible with a payment you can afford. Our graduates are out of debt in typically 2-4 years. Making minimum payments can take 15 or even 20 years or more to pay off your debt and that if you discontinue using the cards. Credit counseling programs (which have higher payments), are usually 5-7 years. Chapter 13 bankruptcy can take 3-5 years. Your debt consultant will design a custom program for you and give you a estimation of the program length.
