Debt
Settlement is a great option to help you eliminate your debt. However, in
these treacherous waters it's as dangerous as sailing in the the seven seas
during the days of pirates. If you choose the wrong company, you may find
yourself broadsided and in worse shape than you were before. It is critically
important that you choose the right team. As in most industries, there are
both good and bad companies.
Liberty Financial Management encourages individuals to shop before making a
final decision. We are confident that, after your due diligence is done,
Liberty Financial Management will be the clear choice as your debt settlement
company.
Be careful! If you don't know what to look for it's easy to allow them to
reach into your pocket and let them steal your money. This report is designed
to guide you through these pirate infested waters by helping you make the
right decision regarding which debt settlement company to choose. Here is a
list of 7 Warning Signs hidden in the important questions to ask that you
want to keep a sharp eye out for to make sure that you are not being scammed.
1. Are you a
member of IAPDA?
IAPDA, The
International Association of Professional Debt Arbitrators, is the largest trade association serving the debt
settlement industry. IAPDA members voluntarily agree to comply with IAPDA's
strict industry standards. Any company you choose should be a member.
If not
- Prepare
to be Broadsided!
Liberty
Financial Management is a proud member of
IAPDA.
2. What are your fees?
A company should
charge fees based on performance and results. Most companies charge a flat
fee based on a percentage of your debt amount. The problem is that they
collect their fees up front, before your debt is settled. The majority of
fees should only be paid after the work is done, not before! If a company is
collecting their fees in advance of the work being done -Prepare to be
Broadsided!
The
majority of Liberty Financial Management fees are based on settlement
results. If Liberty Financial Management doesn't save you money they simply
don't get paid.
3. Are you being paid commission?
Salespeople may
stretch the truth or leave out vital information if they are paid by
commission.
If they say yes - Prepare to be Broadsided!
Liberty
Financial Management representatives are not paid by commission. They are
paid to give you honest answers and solutions to your debt situation.
4. Do you have a money back guarantee if I change my mind?
Don't accept anything
less than a full 30 days.
Anything less - Prepare to be Broadsided!
Liberty
Financial Management provides a full 30 day money back guarantee.
5. If I have faithfully made my payments for one year and you
haven't settled any of my debt, how much money would I get back if I decided
to quit?
Many companies charge
excessive fees whether or not any of your accounts are settled. If fees are
based on a percentage of the debt and not tied to results, the company will
probably refuse to make any refund of your fees - Prepare to be
Broadsided!
With
Liberty Financial Management you would get back 100% of your money.
6. How long have you been in the debt settlement business and
how much debt have you settled?
Many companies don't
settle much debt at all, and young companies have very little experience. If
the company cannot provide proof of their experience - Prepare to be
Broadsided!
Liberty
Financial Management' clients are serviced by Settlement Headquarters. They
have been settling debt for 7 years and have settled more than $102,500,000.
7. Can you stop my creditors from calling me?
It is not possible to
stop all creditor calls.
If they say they can - Prepare to be
Broadsided!
Liberty
Financial Management will take steps to reduce creditor calls and will
provide the services of Consumer Justice Group at no charge for help with
abusive collectors.
BONUS
WARNING SIGNS
8. Will you be making monthly payments to my creditors?
Settlement companies
do not make monthly payments to your creditors.
If they claim to do so or if
they give you the impression that they do
- Prepare to be Broadsided!
Creditors
are not paid until after a mutually agreeable settlement is negotiated and
approved.
9. Can I get sued?
The answer to this
question is yes; it is a possibility.
If they say anything to the contrary
- Prepare
to be Broadsided!
Liberty
Financial Management will continue to negotiate a settlement even if a
lawsuit is filed.
10. Will this have a negative effect on my credit report?
The answer to this
question is yes. All debt management programs will have a negative impact on
your credit report.
If they say anything to the contrary - Prepare to be
Broadsided!
Your
number one concern should be to eliminate your debt. Liberty Financial
Management' number one goal is for you to become debt free as quickly and
inexpensively as possible.
11. When can I expect my first settlement?
Your first settlement
should be made well within the first 12 months of your program.
Any longer
than 12 months - Prepare to be Broadsided!
Many
Liberty Financial Management clients begin seeing settlement offers in as
little as 90 days, and sometimes even sooner.
12. Can you tell me exactly how much this will take and exactly
how much this will cost?
Debt Settlement is not
an exact science, and there are too many variables to quote exact time frames
and figures. Many companies will tell you anything to get you in the door.
Any attempt to provide exact information would be a Prepare to be
Broadsided!
Liberty
Financial Management provides estimates only of time frames and costs. These
estimates are based on current company averages.
13. Are there tax consequences I should be made aware of?
The answer is yes. The
debt amount forgiven may be a taxable event.
This should be explained. If not
- Prepare
to be Broadsided!
A
savings of over $600 may or may not be taxable depending on your individual
and unique situation.
14. Who is holding my money while I'm waiting on a settlement?
Your funds should be
held at a third party escrow company in an FDIC insured trust account.
If the
company tells you to save your own money or to send the funds to them - Prepare to
be Broadsided!
Liberty
Financial Management recommends the escrow services provided by Note World.
Your funds are held in an FDIC insured trust account
To learn more, please
visit our website at
http://www.LibertFinancialManagement.com
or call us at (877) 755-4494.
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