Our Solutions

Step 1:

Call or E-mail us for a FREE consultation. We will analyze your financial situation and determine whether Debt Settlement is a right fit for you.

Step 2:

We work with you to determine the appropriate monthly dollar amount you plan to save towards a negotiated settlement. In most cases, this can be as much as 50% less than your current minimum monthly payments. Scheduled program monthly payments will be saved every month in a special purpose account that you can view anytime online. We cannot access the funds except to pay a debtor or financial institution once a settlement is reached and documented in writing.

Step 3:

Once enrolled in Practical Debt Reliefs Debt Settlement program, we immediately exercise your rights under the FDCPA (Federal Debt Collection Practice Act) in an attempt to handle future creditor communication and help deter the harassing creditor phone calls.

Step 4:

After enough funds accrue to make reasonable offers to creditors, we begin the negotiating process. Normally, we reduce debts by up to 60 % of current balances. We will keep you notified of ongoing negotiations. Please note, depending on state laws and creditor balances it may take several months before we are in a position to make settlement offers to creditors.

Step 5:

Once a settlement is negotiated, we initiate payment from your special purpose account. Once the account is settled, we request that your creditors report to the credit bureaus that your accounts be considered “Settled in Full”, “Settled”, or “Paid As Agreed.” This process is repeated with each creditor until you complete our program and achieve financial freedom.

Step 6:

Once all unsecured debt has been settled, we discuss your results and a plan of action is taken. If you are interested in credit repair², buying a home, purchasing an automobile, or any other financial service, we will help you find a company that will accommodate your needs.

Credit Cards:

Typically issued by banks, major institutions, or retail service providers with the purpose of allowing consumers to repeatedly borrow money at a hefty interest rate.

Collection Agency Debt:

Unsecured debt purchased by a collection agency usually for pennies on the dollar. The collection agency then has their collectors attempt to collect that debt at a much higher percentage using intimidation tactics and procedures.

Unsecured Debt:

Debt not secured by any type of collateral or asset.

Business Debt:

Debt where the business entity is acting as the “Debtor” therefore assuming liability.

Medical Hospital Bills:

Debt usually owed to a hospital or Doctor after a procedure or visit not covered by insurance. These types of debts are very common in debt reduction programs.

Auto (Repo):

Once a vehicle is in default and is therefore repossessed the lending company no longer has property to recover from the “debtor”. Once the lending company sells the collateral they attempt to recover the difference lost from the “debtor”. In this situation the debt is now “unsecure” and qualifies for the debt settlement program.

Student Loans:

Federally guaranteed loan designed at a lower interest rate.

IRS Debt/Taxes:

Debt owed to the IRS for past due personal or business taxes.

Home Loan/Mortgages:

Secured by collateral and not eligible for debt negotiation.

Utility Bills:

Past due utility bills like water, electric, heat, gas, ECT.

Car Payments:

Past due car payments still secured by a vehicle.