FAQ
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What is the difference between your Debt Settlement and Debt Consolidation program? In Debt Consolidation, we combine all your bills into one lower payment per month
as we reduce your interest and fees. In Debt Settlement we will work out a settlement amount that the Creditor will accept and Client can afford to pay as a one-time, lump sum payment to the creditor. |
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Why can't i enroll secured debt in a Debt Settlement programs? The reason being once a client defaults on his monthly payments to the creditor,
the creditor has the right to re-posess the item that was purchased with the borrowed funds |
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What are my rights when it comes to unsecured debt? Clients do have rights when it comes to borrowed money. A good reference would be
to read the "Fair Debt Collection Practices Act" which clients can download or read for free on the internet. |
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Can i increase my monthly payment if funds become available? Absolutely. As a matter of fact, if a client is able to increase their monthly payments,
they will greatly expedite paying off their debt. |
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Why does Leading Financial Solutions charge a service fee and what is the fee structure?
We charge a small fee from our clients for two main reasons: 1. Much like our clients, our company also has to pay its creditors and its monthly operating expenses and bills. For Debt Consolidation, we only charge $39/month per client, regardless of how many accounts they enroll in our program. For Debt Settlement, we only charge 9.9% of total debt enrolled in the program, one of the lowest fees charged by Debt Settlement companies AND, we will not collect any fees until we settle on your account, so there are no upfront costs to the client. 2. We work on behalf of our clients and aggressively negotiate lower rates with the creditors. To collect our fees from the creditors limits our negotiation cabilities with them. |
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When can i cancel this service? Client is free to cancel this service at anytime, with no penalty for early cancellation
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| Can i stop then start the program at anytime? Once a client stops making payments to the Creditor as agreed, he or she has defaulted on his agreement and creditor will no longer honor the original agreement terms. At that stage the Creditor will likely pursue collection efforts against the Client including the possibility of Legal action |
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What is needed from perspective client to enroll in our program? Clients needs to gather all of their financial obligation papers (Credit card and all other bills),
set aside about 15-20 minutes then give us a call so that we may go over our programs and our debt free strategy for the client. Perspective clients can also email us with their "preferred time to contact" and a certified financial advisor will call at the time specified. |