|
Our
Services
Debt Relief
Services
The Progressive
Difference!
It is our
commitment to ensure that Progressive Debt Relief has the ability to
meet your individual needs, through service diversification.
Many companies only offer one service, which they try to force feed to
all their potential clients. Many times these companies feel like they
can not arm their potential customers with all of the facts. Some
consumers even receive false information, in lieu of a sale. We are
committed to objectively evaluate your case, give you the pros and
cons of your options and offer a consolidation solution that works for
you. In order to accomplish this objective our company has to offer
our potential clients service diversification. Here are the
consolidation options we offer to our clients:
Debt Settlement
Objective:
To save money,
settle and resolve your debts for as low a percentage on the dollar as
possible.
Pros:
The monthly set-aside amount may be much more affordable.
Can be an alternative to bankruptcy, which is more difficult with
bankruptcy reform in place.
Affords you professional representation during a critical financial
period in your life. (PDR does not provide legal advice or
representation.)
Cons:
You might have to experience normal creditor collection activity
associated with delinquency. PDR does not have the legal authority to
prevent all creditor calls.This activity may include creditors calls,
dealing with a third party collection agency, and in a few cases, a
summons to appear before an arbitrator to find a resolution.
Persons participating in PDRs debt settlement program run the risk of
being sued for nonpayment. In this event, remedies may include
judgments, liens, and wage garnishments. Keep in mind PDR will do
anything within its capacity to help resolve your accounts, but each
creditor makes their own decisions.
Creditors may refuse to settle debts. Every situation is different and
PDR cannot guarantee that all creditors will agree to negotiate and/or
settle.
If you do not make your minimum payments your creditor may raise the
interest rate on your account. Your account balance will continue to
grow as your creditor adds accrued interest, late fees, over-limit
fees and penalties. Your balance will continue to grow until a
settlement is reached with your creditor; and, if negotiations are
unsuccessful, you could be called upon to pay the entire balance.
If you do not make required minimum payments to your creditor you may
be breaking the terms of your agreement with them and your actions
will probably be reported to consumer reporting agencies as late,
delinquent, charged-off or past due balances. This is true anytime you
fail to make your minimum payments in a timely manner. After
settlement your creditor may comment that the account was “settled for
less than the full amount” on your credit report. Depending on the
condition of your credit report at the time of enrollment, debt
settlement may have an adverse effect on your credit report and credit
score.
Settlement may be right for you if...
You are current, but dependent on your credit cards to help offset
your monthly household expenses so you can remain current with your
cards, and have no accessible equity or assets to help manage the
situation. You have just fell behind and can no longer afford to pay a
regular monthly payment to your creditors, similar to when you were
current. You are behind to the point that you are now dealing with a
third party collection agency, or law firm. The choice is yours!
Debt Management
Plan
Objective:
To help the client get out of debt by taking advantage of creditor
benefits through monthly payments to creditors eventually leading to
payment in full.
Pros:
Usually a much lower interest rate, on a creditor by creditor
basis, is made available to the potential client.
In many cases, if you are behind, your account may be re-aged back to
a current status without having to make up any back payments or late
fees, after three or more consecutive on time payments.
Simplifies things by giving one simple payment each month, and a
timeline to have your bills paid off.
Also the program does not have a negative impact on your FICO score.
However, your participation in a debt management program may be noted
on your credit report. This may impair your ability to secure credit.
Cons:
The payment amount and timeframe is longer than settlement in most
all cases.
This increased financial pressure may not be feasible, if the client
does not have the ability to use their cards.
Even if your accounts are re-aged, negative information from past
delinquincies or late payments weill remain on your credit report.
Most creditor guidelines offer no flexibility in respect to reduced
payments, and deny benefits in the case of any missed payments.
Although the program does not impact your FICO score, it could be a
factor in determining whether or not you get approved for financing.
Your participation in a debt management program may be noted on your
credit report. Some lenders may view this notation negatively, and
thus impair your ability to secure credit. Some consumer credit
counseling programs place a stipulation on your credit which does not
allow financing to be approved for the duration of time you are on the
program.
You might have to experience normal creditor collection activity
associated with delinquency. PDR does not have the legal authority to
prevent creditor calls.
Not all creditors may participate in the debt management program.
Debt Management is right for you if...
You are current, can make minimum payments on your cards and pay
regular monthly bills without using the cards, but can not get the
principal balances down because of high interest rates. The choice is
yours.
Had an emergency that caused you to fall behind, but can now afford
regular monthly payments and just need help getting back to a current
status. The choice is yours.
Refinance/2nd
Mortgage
Objective:
To use equity in your home to pay off your unsecured debts.
Pros:
A quick way to ease pressure from mounting credit card debt.
Usually does not have a negative impact on your credit score, or your
ability to get financing.
Creates possible tax breaks. (Consult your tax advisor for information
concerning your specific situation).
Cons:
Increases your financial risk by securing your unsecured debt with
your mortgage deed.
May have to pay a high commission to a broker or loan officer. The
amount of money you have to pay back is usually substantially more
than a debt manamgent or settlement program.
Weakens your financial portfolio by using an asset to pay off
revolving debts.
Leaves you vulnerable, because you cash in an asset that could be used
to handle a more urgent emergency.
Refinance is right for you if...
You are current with your bills, still have a relatively high credit
score, but can not handle the monthly minimums on your revolving debts
without using your cards.
Take care of it yourself
Objective: To pay off your unsecured debt load without taking
advantage of any third party service or loans.
Pro:
No fees or commissions to pay
Cons:
With no benefits and no professional service your situation could get
worse over time.
Many try to handle debt issues on their own because of fear and
denials not objectivity and circumstance.
Some will not exercise the discipline necessary to resolve their
outstanding revolving debts.
You should handle your debt issues by yourself if...
You can afford the
monthly payment on your revolving debts and your interest rates are
low.
A Different “Bottom line”
Ever been involved with a company that made a lot of promises on
the front end (sales process), but could not be found when the product
or service they promised was supposed to be delivered? (customer
service) Part of the Progressive Difference includes a company
committed to the client after they have chosen to enroll in our
program. When it comes to client satisfaction, we do not cut costs.
Our business model calls for investment and training, not cost cutting
tactics that lead to a high profit margin in the short term. Our
bottom line is the clients we represent. Here is how:
Client Relations
Ever had a question or concern, but had a difficult time getting
someone on the phone? How about getting an agent on the phone that
seems insincere, uninformed, and more interested in ending the call
than answering your questions? This will not happen with Progressive
Debt Relief. We are committed to addressing your concerns and
answering your questions quickly, professionally and honestly. This
customer service goal is achieved by staffing the right amount of
customer service representatives with the proper credentials, and
intensive, continual training. Most companies focus on hiring as few
customer service representatives as possible while paying as little as
possible. This is a toxic combination for the client that leads to a
poor experience and a potential failed outcome.
Creditor Relations
The biggest problem many consumers have with debt consolidation
companies denotes the lack of communication between their creditors
and the consolidation company. Many companies do not even attempt to
communicate with the client’s creditors, because of the required
investment in customer service. They wait until there is enough money
to potentially settle a debt before they initiate negotiations. This
upsets most creditors, who if made aware of the true circumstance,
would be more apt to cooperate. This breakdown in communication
creates an unpleasant experience for the client, and hinders the
negotiation process by impacting the consolidation company’s
credibility with the bank in question. Progressive Debt Relief is
committed to communicating with your creditors, therefore limiting
creditor calls and increasing our credibility with the banks in
question.
Negotiation
Many people envision negotiation as two hard nosed business men
trying to leverage the best deal possible for their personal business
interests. Although, there are elements of settlement that call for
utilizing leverage, it is only one facet of many that are important
when negotiating with banks. Credibility, continual communication,
knowledge and professionalism represent the most important qualities a
negotiator must have when interacting with your creditors. In respect,
Progressive Debt Relief is interested in the truth of your case. When
we establish the truth, we can take that resource to your banks with
conviction and integrity. If the banks understand that your situation
is legitimate, and you are doing the best you can, then a successful
outcome is much more likely. Progressive Debt Relief also hires and
trains professional and knowledgeable negotiators, that can speak to
your banks with skill and purpose. Creditors prefer courteous
professionals who communicate with knowledge and deal in truth. Also,
many consolidation companies label the banks as the enemy in direct
conflict with your interests. This creates an unprofessional
environment, which agitates your creditors and creates roadblocks
during negotiation. Progressive Debt Relief helps the creditors
understand that it is in their best interest to resolve these debts in
a practical and affordable manner. The end result creates a win-win
for both you and the banks in question.
Our Bottom line
When choosing a debt consolidation company to assist you with your
debt load it is important to account for the three levels of customer
service. Progressive Debt Relief is committed to creating and
maintaining a quality customer service department through investment,
training, and a philosophy centered around credibility and integrity.
A properly trained and staffed customer service department creates a
favorable outcome for the client and more cooperative creditors during
the process.
This commitment to the three tiers of customer service, along with
service diversification represent the foundation of the “Progressive
Difference”. |
Education
Center
Helpful Financial Forms - Download financial forms.
Credit
Cards - Learn about important terms before applying for a
credit card.
Consumer Rights - Learn about your rights under the Fair
Credit Reporting Act.
Debt Warning Signs - Learn about the warning signs of debt.
Credit
Scores - Learn about credit scores and why they are so
important.
Telemarketing Scams - Top 10 telemarketing scams.
Money Saving Tips - Tips to help you save money.
Consumer Debt Statistics - Detailed consumer debt statistics
in the U.S.
Debt Management Plan - How debt management helps you.
Credit
Repair - How credit repair helps you.
Foreclosure Prevention - How and why to prevent foreclosure.
|
