Frequently Asked Questions

Debt settlement is easy with American Credit Card Solutions, from the questions you have to the financial freedom you want.

Everything You Need To Know About Debt Settlement

Debt settlement is a method of paying off your debt, often at a reduced amount negotiated with your creditors.

In short, you’ll be letting your unsecured debts go delinquent, if they aren’t already. This shows creditors that you are in a hardship situation.

Instead of paying your creditors monthly minimum payments, you begin depositing a monthly payment into an FDIC-insured savings account that you control. When enough money has accrued, we negotiate with your creditors for a lower payoff and use the money in your savings account to pay off your debts.

You continue to make your monthly payment into the account, and we distribute that throughout your creditors until your debt is paid in full.

Most unsecured debts are eligible, such as unpaid credit cards, medical bills, personal loans and accounts in collections. To see if your debts are eligible, contact one of our dedicated debt professionals.

Initially, your credit will suffer. Your unsecured debts will go unpaid for a period of time as your creditors are informed that you are in a hardship situation. However, as your debts are paid, your credit score will begin to rise.

Of course, you can if you qualify. And for some, this may be the better option. For example, a Chapter 7 bankruptcy completely eliminates your debts. Also called liquidation, your assets are dissolved to pay off the bankruptcy debt. However, bankruptcy stays on your credit for 10 years. Every debt solution has pros and cons. Call 877-820-2954 to speak to one of our debt professionals to find out which solution is right for you. If considering bankruptcy, ACCS recommends consulting a bankruptcy attorney.

Negotiations typically don’t begin until a few months after your debt settlement program has started. After you enroll in our program, you begin making payments into an FDIC-insured savings account that you control. Once enough money has been deposited, we begin negotiating with your creditors to reduce the total amount owed. The start of the negotiations depends on several factors including the number of creditors, how much you owe and how much you can afford to pay monthly.

Debt settlement is a method of paying off your debt, often at a reduced amount negotiated with your creditors.

Most unsecured debts are eligible, such as unpaid credit cards, medical bills, personal loans and accounts in collections. To see if your debts are eligible, contact one of our dedicated debt professionals.

Initially, your credit will suffer. Your unsecured debts will go unpaid for a period of time as your creditors are informed that you are in a hardship situation. However, as your debts are paid, your credit score will begin to rise.

Of course, you can if you qualify. And for some, this may be the better option. For example, a Chapter 7 bankruptcy completely eliminates your debts. Also called liquidation, your assets are dissolved to pay off the bankruptcy debt. However, bankruptcy stays on your credit for 10 years. Every debt solution has pros and cons. Call 877-820-2954 to speak to one of our debt professionals to find out which solution is right for you. If considering bankruptcy, ACCS recommends consulting a bankruptcy attorney.

In short, you’ll be letting your unsecured debts go delinquent, if they aren’t already. This shows creditors that you are in a hardship situation.

Instead of paying your creditors monthly minimum payments, you begin depositing a monthly payment into an FDIC-insured savings account that you control. When enough money has accrued, we negotiate with your creditors for a lower payoff and use the money in your savings account to pay off your debts.

You continue to make your monthly payment into the account, and we distribute that throughout your creditors until your debt is paid in full.

Negotiations typically don’t begin until a few months after your debt settlement program has started. After you enroll in our program, you begin making payments into an FDIC-insured savings account that you control. Once enough money has been deposited, we begin negotiating with your creditors to reduce the total amount owed. The start of the negotiations depends on several factors including the number of creditors, how much you owe and how much you can afford to pay monthly.

Still have questions?

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