We made a list of common questions your friends and family might ask about debt resolution. These example answers will help you envision what you might say so that you don’t feel put on the spot.
- What is Debt Resolution?
- How Do You Qualify for A Debt Resolution Program?
- How Does Debt Resolution Work?
- How Much are You Paying Every Month?
- Are Fees Expensive?
- What are the Benefits of Debt Resolution?
- Is Debt Resolution a Scam?
- Does Debt Resolution Lower Your Credit Score?
- Couldn’t You Negotiate Debt on Your Own?
Tip: Don’t worry about memorizing these answers word for word. Instead, you can use them as a guide and come up with your own responses.
What is Debt Resolution?
Example Answer: “Debt resolution is a debt help program where a company negotiates and resolves my unsecured debts for less than the original debt.
The main goal of debt resolution is to reduce my debt and to resolve it faster than I could on my own.”
How Do you Qualify For A Debt Resolution Program?
Example Answer: “First, you fill out a free quote form and talk to a Consolidation Specialist. They will ask you questions to determine your eligibility.
People with $10,000 or more unsecured debt who can make regular monthly payments are good candidates for the program. For many, it’s a great alternative to bankruptcy. A Consolidation Specialist helped me decide if the program was the right fit for me.”
How Does Debt Resolution Work?
Example Answer: “The professionals at Beyond Finance work with creditors to negotiate lower resolutions on enrolled accounts. They handle all communications with creditors so I can relax and focus on other things that matter to me.
My job during the program is to make my monthly payments on time and to approve resolution offers. The Client Dashboard allows me to monitor my progress and the Client Success Team is always available to answer my questions. Enrolling in the program has reduced my financial stress.”
How Much Are You Paying Every Month?
Example Answer: “Debt resolution can lower your monthly payment by 40% or more. The program is much more affordable than making minimum payments. I deposit my monthly payments into a Dedicated Account, and the funds are used to pay for my resolutions.”
Are Fees Expensive?
Example Answer: “Program fees are based on a percentage of the total debt enrolled in the program. Fees are never charged upfront! The monthly deposits are designed to cover both the resolutions and program fees.
I know I won’t get any surprise bills! Fees are deducted from my Dedicated Account when I approve and start making payments on a resolution.”
What are the Benefits of Debt Resolution?
Example Answer: “Debt resolution helps people experiencing financial hardship save a lot of money and time. Highly trained debt negotiation specialists can get the best possible resolution offers on enrolled debts.
The program will resolve debt in 24 to 48 months. It’s helping me pay off my debt years faster and for significantly less than what I would pay, making minimum payments.
The program could lower your monthly payments by 40% or more, which can make a huge difference right away.”
Is Debt Resolution a Scam?
Example Answer: No, it’s a legitimate debt strategy. Working with an accredited company with reputable reviews ensures that you are in good hands. There are also federal laws in place to protect consumers like me from bad actors in the industry.
Beyond Finance is an Accredited Member of the American Fair Credit Council (AFCC), an alliance that creates standards and guidelines to improve compliance, transparency, and consumer advocacy within the industry. So I know that my program is doing things the right way.”
Does Debt Resolution Lower Your Credit Score?
Example Answer: “Everyone’s credit situation is unique. In general, enrolling in debt resolution program will cause a temporary drop to your credit score. When you begin the program, you delay payment directly to creditors and start building funds in your Dedicated Account.
When resolutions are paid off, the credit score should begin to recover.”
Couldn’t You Negotiate Debt on Your Own?
Example Answer: “Negotiating debt on your own is possible but not recommended. Debt negotiation is a full-time job! Successfully negotiating resolution offers with multiple creditors requires time and expertise that I don’t have.
I feel much better knowing that my debt is being managed by people who are trained professionals.”
Debt Resolution is the Right Choice for You
Everyone’s financial situation is unique and different. Struggling with debt is stressful and can disrupt many aspects of your life. When searching for debt help, it’s normal to be overwhelmed by your options.
A Consolidation Specialist will help you analyze your debt and finances to determine if debt resolution is the right choice for you. Beyond Finance only enrolls people who are good candidates for the program. If you have been accepted into the program, it means we are confident we can get resolutions that will save you money and time.
Debt Resolution Benefits
- Highly trained debt negotiation specialists get proven results
- Pay off debt faster
- Pay a fraction of what you owe
- Reduces your monthly payments during the program
The minimum payment example is based on a credit card for individuals with fair credit, having an interest rate of 23% (rounded up to the nearest percentage point) and assumes a payment of 3% of the balance. Please note that, assuming the principal balance does not increase due to additional charges, fees, and interest, the required minimum monthly payment will decrease over time as additional minimum monthly payments are made and reduce the total balance.
Sharing Debt Resolution With Others
When you find immediate relief through debt resolution, it can be exciting to share that good experience with others. You may know people who could benefit from the program. If you have a family member or friend struggling with debt, share your positive experience with them.
You can also encourage them to speak with a Consolidation Specialist. If the program is right for them and their debt, a specialist will help them enroll and begin their journey.