Credit Card Debt Settlement
At Bank Rover we will analyze your file to confirm we can accept you into our Debt Settlement program. We strive to help those with staggering debt and personal hardships. We will partner with our clients to settle your debt and avoid bankruptcy. Done properly we will get you back on your feet 100% debt free.
How We Work
Step one is to have your file approved by our certified counselor. After the approval process our credit specialist can help you move forward with our debt settlement program. Once you get started with the program you will be contacted by your negotiator, who has been in the debt business for many years. We will now start the process of getting you to financial freedom.
Who qualifies for this program?
Bank Rover debt settlement program is only for people facing financial hardship. Debt settlement programs are for people who are late on paying their debts or have little or no ability to pay their debts in the future and are possibly facing bankruptcy. This proactive approach is the most cost-effective option for people facing hardships, including, but not limited to:
– Reduced income
– Job Loss
– Poor money management
– Medical Expenses
How credit card debt settlement works – An example
Let’s say you owe a total debt of $100,000 on 5 credit cards. You are finding it difficult to keep up with the minimum payments. You have consulted a credit counseling agency but the monthly payments they negotiated with your creditors were too high. You don’t want to file bankruptcy as you find it too damaging in the long term and wish not to involve the court. So, finally you decide to work with a Debt Relief Law Firm, Attorney Advocates of America. Here are the 4 steps to settle credit cards and pay off your balances.
1) Once you have stopped paying your creditors we will have you deposit a certain amount monthly into a savings account (i.e. a trust account the Law Firm creates on your behalf).
2) No more handling of collection calls: When you start falling behind on your payments, you may receive collection calls, which are effectively handled by our representatives. We don’t leave it to you to handle such harassing calls on your own. We are truly partners with you until you have reached financial freedom.
3) Negotiation starts soon after: As you accumulate a fair amount of money into your trust account, our negotiators at the Law Firm will start negotiating with your creditors one by one.
4) We reduce your Debt by 40-60%: After tough negotiations with your creditors, your creditors agree to accept a reduced amount, normally around 40-55% of your outstanding debt.
5) After the program is complete: The final step is to present notification to all credit reporting agents of your current status. We will make sure that the proper reporting agents have recorded your updated status. You are now debt free and released from all the financial stress.