How can 411 Debt Solutions assist you?
We can match you with experienced debt solution professionals who can help you design a realistic way to pay off your debts without breaking your budget. Typically, they are able to negotiate a 50-75 percent reduction of your debt. Most debt solutions experts will also ask creditors to waive all interest charges and stop late-payment fees.

Most debt solutions experts will also consolidate your payments one low monthly payment.

Who qualifies for 411 Debt Solutions?
In order to qualify, you do have to be a United States Citizen. However, you do not have to be delinquent on your payments or be a homeowner to qualify, since both homeowners and renters are eligible for the service.

What other benefits does 411 Debt Solutions provide?

You will be able to demonstrate a strong responsibility to negotiate your financial obligations. As you do so, the debt solutions representative may be able negotiate even lower interest rates.

What is Debt Negotiation?
Debt solution professionals negotiate mutually agreeable settlements between our clients and their creditors one debt at a time. They do not make monthly payments unless they are part of a settlement agreement. Typically each settlement is a lump sum.

What happens to my credit?
If you are already behind on payments, your credit has already been negatively affected. You may have applied for a mortgage and been told that your debt-to-income ratio was too high or that your credit scores are too low. The only solution is to drastically reduce your debt. After a debt is settled, the settlement is reported to the credit bureaus. Settled accounts are positive compared to bad debts or bankruptcy. In the rare case of clients who have good credit scores before starting the negotiation process, the credit score may decline on the front end until the debts can be cleared up. Most clients experience an overall improvement in their credit file once the settlement process has been completed.

Can my creditors sue me or garnish my wages?
It is true that when someone falls behind on making payments the creditor has a right to sue. In our experience, most creditors are not anxious to pursue legal action. Legal action is costly and most creditors are willing to negotiate the amount owed to them. Of course, the creditor has the right to sue you to recover their money. Generally, open communication between the debt settlement coordinators and your creditors will allow them to work out an agreement before legal action is necessary. The threat of garnishing your wages is a common tactic used by aggressive debt collectors. Nothing is scarier than the threat of having money removed from your paycheck without your permission. While they would like to make you think it will happen on your next paycheck, it just can’t happen. First the creditor must sue you, obtain a judgment, and file for a garnishment action.

Can I settle me debts myself?
Yes. However, typically, the discounts you achieve on your own won't be nearly as large as a professional negotiator can obtain. Additionally, debt settlement may be a lengthy and time consuming process. You may want to utilize the time and expertise of dedicated professionals instead.

Will the creditors call and harass me?
If you are delinquent on any of your debts you may have already experienced these uncomfortable phone calls. However, you have rights under the Fair Debt Collection Practices Act to prohibit abusive practices by debt collectors. Debt settlement representatives have programs to help you exercise your legal rights which will minimize phone calls from creditors.

Are there any tax consequences?
Creditors are required to report forgiven debt in excess of certain limits to the Internal Revenue Service. In turn, you are required to report the discharge of indebtedness (or a DOI) to the IRS as income. However, the IRS permits you to write off any "income" from canceled debts up to the amount by which you were "insolvent" at the time. If your liabilities are greater than your assets you may not have to pay the IRS the DOI.

What can be removed from my Credit Report?
Anything inaccurate can be removed from a credit file including bankruptcy, judgments, collection accounts, liens, foreclosures, and late payments. Federal law requires that your credit report be accurate, complete, and verifiable. Accurate means exact and precise. If it is not accurate, we will challenge everything in question with the ultimate goal of having erroneous negative information removed from your report.

How long does negative information remain on a credit report?
Most negative information may remain on a credit report for seven years. Bankruptcy may remain on a credit report for 10 years.