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Reduce Your Debt by Up to 60%
Arizona Debt Relief & Debt Settlement Experts


Arizona Debt Relief FAQ’s

Will late fees and interest still accrue on my accounts?

Yes. Most fees and interest payables are still included in the debt payment plan. Creditors still add respective late fees and interest until the account is charged off. On the other hand, these non-principal amounts will not matter in the long run as our debt settlement program aims to significantly reduce your total debt payments to a manageable amount less than the original total debt, even if interest and fees are included.

What if my creditors won’t settle?

Creditors rarely reject debt settlement offers. This is because, like any other business, credit institutions are built to gain profit. So if any of their debtors will not be able to repay the amount due, the company would rather receive a fraction of the total debt than not receive any at all. In cases wherein the creditor denies the settlement, the reason will typically be that they plan to offer a counter-proposal.

Does Debt Settlement have a negative impact on my credit history?

Yes. Debt settlement results in creditors charging off accounts with outstanding debt due, and charged-off accounts negatively affect an individual’s credit history. So even if the debtor is planning to fix the debt, the fact is that they are not able to carry through with the original credit agreement.

However, there is still hope to rebuild your credit rating. Once you’ve settled your debt, the creditor will notify the crediting institutions that your balance is paid, and you’re ready to manage your future credits more efficiently.

Will I continue to get calls and collection letters from my creditors?

Most probably, yes. However, a debt that has entered a debt settlement program may also make the creditor more considerate in their correspondence to their debtors. They may consider toning it down on the calls and debt collection efforts after confirming that you are cooperating properly with us, your debt relief company. Furthermore, we can provide you with the tools to handle and lessen creditor collection harassment if you need them.

Will this program stop legal action against me?

No. Creditors can be more cooperative and understanding if you’ve entered into a debt settlement program with them. Unfortunately, even if a settlement plan is in place, creditors still have the right to pursue legal actions against their debtors. So there is no real guarantee that no lawsuits will be filed against you.

What we can assure you; however, is that we can continue processing our debt settlement program despite any ongoing legal proceedings. We can keep on negotiating your case before, during, or after a lawsuit. We are here to help you stay focused on the goal, which is to eliminate your debt as soon as possible.

Facing lawsuits for your debt is a terrifying experience. We encourage you to hire attorneys who are experts in debt law. On our part, we guarantee that our operations will remain at optimum efficiency no matter what kind of legal impediment you’re facing.

Who is Qualified?

Only people with financial difficulties that heavily affect their debt payment are qualified for a debt settlement program. This means that neither people who are just struggling with a few late payments nor people who have no ability to pay any amount of their debt will be eligible.

How do I apply?

Apply to our debt settlement program by completing our online form. Our debt specialists will evaluate your application and will contact you once they determine your eligibility for our debt relief program.

What will I pay for your service?

The fees for our services will be included in your monthly payment plan. The amount will depend on the total debt involved in the debt settlement program. You can rest assured that all fees will be disclosed with full transparency. Before any commitment is finalized, we will require your approval signature.

When I enroll in the program, what will happen to my accounts, can I still use them?

If the amount of canceled debt involved in the debt settlement plan goes over $600, the creditor will be required to report this to the IRS while the debtor must include this amount in their tax returns as “income.” But if at any point during the debt settlement period you were considered as unable to pay, you can write off the involved amount. Fees and interest will also be deducted from the total amount if you are not insolvent during the period.

Refer to: Publication 908, Form 982.

Can I still use my credit cards?

No. It is advisable to refrain from doing any form of credit activity because this may tarnish your debt settlement chances. All accounts involved in a debt settlement plan won’t be available for use.

Call Optimal Debt Solutions today at (602) 641-5573 for your Free Evaluation!