Debt Reduction
A credit card debt reduction program may be able to settle a consumer’s debts for less than they owe, saving thousands in the process, while making one affordable payment to the program. For consumers overwhelmed with credit cards, medical bills, personal loans, and/or collection debts, debt reduction is a great solution because they can get out of debt quickly and for a lot less than they owe.
To get approved for our credit card debt reduction program, you must first speak to one of our debt specialists. Our debt specialist will work with your most recent statements from your creditors to come up with a reasonable monthly payment based on the following factors:
- Who the creditors are
- Present account balances
- What state you reside in
- Your recent account activity
When enrolled in our debt reduction program, you begin by making your monthly payment into a savings account that is set up for you by Noteworld Servicing Center in conjunction with Key Bank, which you have total control over. It is automatically withdrawn from you current checking or savings account the same day every month. Meanwhile, you will be advised to close every account that is enrolled and we will ask your creditors to note "account closed by consumer" on your credit report. This can prove advantageous for your credit score and history down the road. In the meantime, as you save money in your savings account, payments are not disbursed to the creditors, but rather saved in order to eventually settle the accounts.
Once you have enough money saved in the debt reduction program, we negotiate with the creditor and attempt to convince them to accept a lump sum settlement offer. Every time a debt is settled you receive the settlement letter for your records. Average reductions are a percent of what is owed at the time of settlement (not including fees), and the creditor reports the debt as "settled" or "paid" on your credit report and signs a document releasing you of any legal obligation for paying the rest of the debt.
By enrolling in our debt reduction program you will:
- Be paying a low monthly program payment which covers all of your creditors.
- Get out of debt within 12-48 months.
- Be able to start rebuilding your credit score as soon as the program completion.
- Be stress free and back on your financial feet in no time!
 The National Debt Relief Group can help you find the right solution with a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.
Debt Reduction
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Debts We Can Settle
Unsecured debts:
- Credit cards
- Unsecured loans, personal loans, or lines of credit
- Medical bills
- Collections or repossessions
- Business debts
Debts We Can't Settle
Secured debts:
- Lawsuits
- IRS debt or back taxes
- Utility bills
- Auto loans, government loans, or student loans
- Mortgages or home loans
- Other secured debts
Your Debt Relief Alternatives
If you are considering a type of debt relief program, know that there are alternatives to debt settlement. National Relief also offers debt management, which may work better for some consumers.
Your Consumer Rights
All consumers should be aware that they have specific rights under The Fair Debt Collection Practices Act. Debt collectors must follow the rules. Violations of this act by collectors can result in the consumer receiving damage awards.
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