Shopping for the Best Debt Settlement Company?
Debt Settlement is a viable option
to help you eliminate your debt. However, if you choose the wrong company, you
may find yourself in worse shape than you were before. It is critically
important that you choose the right company. Like any other industry, there are
good companies and there are bad companies.
New Era Debt Solutions encourages
people to shop before making a final decision. We are confident that, after
your due diligence is done, New Era Debt Solutions 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 get ripped off. This form is designed to assist
you in making the right decision regarding which debt settlement company to
choose. Here is a list of 14 important questions to ask.
1. Are you a memeber of TASC?
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TASC, The Association of Settlement Companies, is the largest
trade association serving the debt settlement industry. TASC members
voluntarily agree to comply with TASC's strict industry standards. Any
company you choose should be a member. If not – Red
Flag!
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New Era Debt Solutions is a proud member of TASC.
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The majority of fees should be based on performance and
results. Many companies charge a flat fee based on a percentage of your debt
amount. Their fees are collected in the beginning months of the program and
are collected even if no settlements are completed. If fees are based on a
percentage of the debt and not tied to results – Red
Flag!
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The majority of New Era Debt Solutions fees are
based on settlement results. If New Era Debt Solutions doesn’t save you money
they simply don’t get paid.
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3. Are you
being paid a commission?
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Salespeople may stretch the truth or leave out vital
information if they are paid by commission. If they say yes – Red Flag!
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New Era Debt Solutions representatives are not
paid by commission. They are paid to give you honest answers and solutions to
your debt situation.
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4. Do you have
a money back guarantee if I change my mind?
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Don’t accept anything less than a full 30 days. Anything less –
Red Flag!
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New Era Debt Solutions provides a full 30 day
money back guarantee.
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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?
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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 – Red Flag!
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With New Era Debt Solutions you would get back
100% of your money.
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6. How long
have you been in the debt settlement business and how much debt have you
settled?
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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 – Red Flag!
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New Era Debt Solutions’ clients are serviced by Settlement
Headquarters. They have been settling debt for 7 years and have settled more
than $81,700,000.
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7. Can you stop
my creditors from calling me?
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It is not possible to stop all creditor calls. If they say they
can – Red Flag!
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New Era Debt Solutions will take steps to reduce
creditor calls and will provide the services of Consumer Justice Group at no
charge for help with abusive collectors.
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8. Will you be
making monthly payments to my creditors?
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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 – Red Flag!
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Creditors are not paid until after a mutually
agreeable settlement is negotiated and approved.
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The answer to this question is yes; it is a possibility. If
they say anything to the contrary – Red Flag!
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New Era Debt Solutions will continue to
negotiate a settlement even if a lawsuit is filed.
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10. Will this
have a negative effect on my credit report?
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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 – Red Flag!
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Your number one concern should be to eliminate
your debt. New Era Debt Solutions’ number one goal is for you to become debt
free as quickly and inexpensively as possible.
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11. When can I
expect my first settlement?
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Your first settlement should be made well within the first 12
months of your program. Any longer than 12 months – Red Flag!
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Many New Era Debt Solutions clients begin seeing
settlement offers in as little as 90 days, and sometimes even sooner.
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12. Can you
tell me exactly how long this will take and exactly how much this
will cost?
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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 Red Flag!
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New Era Debt Solutions provides estimates only
of time frames and costs. These estimates are based on current company
averages.
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13. Are there
tax consequences I should be made aware of?
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The answer is yes. The debt amount forgiven may be a taxable
event. This should be explained. If not – Red
Flag!
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A savings of over $600 may or may not be
taxable depending on your individual and unique situation.
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14. Who is
holding my money while I’m waiting on a settlement?
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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 – Red Flag!
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New Era Debt Solutions recommends the escrow
services provided by NoteWorld. Your funds are held in an FDIC insured trust
account.
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