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Our program is focused on dealing with unsecured debts (credit cards, medical bills, unsecured personal loans, etc.). We can’t help with debt that is secured by collateral (such as mortgages or auto loans). However, after completing the program, the money you had been paying towards your unsecured creditors can be used to pay down secured debts and start saving for your financial future. Not everyone completes our program, so remember that sticking to your monthly savings plan is the most important factor in determining your success

The percentage you can settle your debt for depends on your creditor, how much you owe, which state you live in, and many other factors. With over 15 years of experience in debt settlement, National Financial Relief could settle your debt for as little as 50% of the amount you owe or in some cases even less. It is important to note that every creditor is different and the amount they will settle for can vary.

In our program, clients pay no fees whatsoever until a debt is negotiated. You will know when fees are charged because you will approve every deal. Once we reach a settlement with a creditor, we immediately contact you for authorization. After you authorize the settlement, the fee associated with the debt is processed. All fees associated with the program are included in the monthly savings quoted to you by a debt consultant. Our fees usually range from 15% to 25%, but your rate may vary depending on your state of residency.

If you have one card with a low balance that you can quickly pay down to zero, then you may hold on to it for emergencies. The program will generally not work, however, unless you enroll all of your high balance (greater than $500) credit card accounts. Open credit cards make it difficult for us to negotiate with your creditors if they see you are settling on some accounts but not others.

Unsecured debt often takes up a significant portion of the average consumer’s overall debt. The good news is that it can be resolved as part of a debt settlement program. If you are faced with high balances on credit cards, medical bills or unsecured loans, the program may be able to contact the creditors and negotiate for the account to be paid off for a lesser amount.

If the debt is based on collateral such as a vehicle, house or piece of property; it is considered a secured debt. Specific examples of secured debt include a secured line of credit, mortgage, home equity loan and motorcycle loan. Unfortunately, this type of debt cannot be settled because the creditor can simply relinquish the asset in order to recover the funds.

Another type of debt that cannot be included in a debt settlement are federal or government backed student loans.