You should be fully informed before signing on to any solution to resolve your debt, to be sure it suits your circumstances and needs. Answers to the most commonly asked questions about our program are below. If you'd like to speak to someone or have specific questions not answered here, call 855-378-1032 to talk with one of our experienced financial consultants.
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Am I a good candidate for debt resolution?
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The ideal candidate for debt resolution is someone experiencing financial hardship that makes it difficult to make payments on their credit card debts. He or she is making minimum or low payments on their cards and sees little improvement in terms of reducing the total amount owed. The ideal candidate is looking to reduce their monthly payments and pay off their debts within a timeframe of 2 to 4 years as opposed to the 20 to 40 years that it could take by continuing to make minimum monthly payments.
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How long will it take me to complete the Atlas Debt Relief program and pay off my debts?
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The time required to complete our debt relief program will vary based upon how much money you owe and how much you will be able to pay each month to build up the cash required to settle your accounts. Our consultants will work with you to help you determine the program length that is best suited to get you out of debt quickly while not adding any unnecessary hardship to your current financial situation. Our average clients finish the program somewhere between 2 and 4 years.
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How are the fees for the Atlas Debt Relief program charged? Are there any upfront fees?
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No, there are no up-front fees. Fees are charged as a percentage of your enrolled debt, but only after a debt is resolved — which means we do not get paid until we settle your debts.
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What happens if I miss a monthly payment?
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Making your scheduled payments is critical to the success of your program. Missing a payment will extend the timeline of your program. If you have an emergency and must miss a payment, you will need to call us a week in advance so we can stop the payment.
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When will I begin to see progress on my account?
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Once you have accumulated sufficient funds in your program savings account, we will begin negotiating settlements with your creditors. This amount will typically range from 40% to 50% of the enrolled debt. Depending on the amount owed on each of your cards, the time frame during which this will occur will vary. Our typical client usually sees their first settlement somewhere between their fifth and seventh month in the program.
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Can I still use my credit cards when I am in the program?
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We strongly recommend against using your cards while in the program, not only because adding further debt is counterproductive, but also because creditors tend to negotiate debts only once cards have gone delinquent. We do suggest, however, that you set aside one card (not in the program) with an available credit line to be used for any emergency situations that might arise.
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Who is holding the funds that accumulate from my monthly payments?
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A third-party processor oversees your program account and disburses funds to creditors enrolled in the programs. This account is maintained in your name only. It is FDIC-insured and is accessible only with your authorization. You can view your program drafts, payments, and account balances and monthly statements online on our portal 24/7.
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What if my creditor says they do not deal with debt resolution companies?
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We accept into our program only those debts held by creditors that we have a history of successfully negotiating agreements with on behalf of our clients. Remember, if we cannot negotiate a settlement, we do not get paid.
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Is it possible for me to resolve my debts on my own?
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Yes, it is possible. But when it comes to debt resolution, the difference between doing it yourself vs doing it with a professional can cost you thousands of dollars. At Atlas Debt Relief, our staff of professional strategists and negotiators have years of experience in dealing with creditors and negotiating the best settlements on behalf of our clients.
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Will my credit be impacted by participating in the program?
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Yes, your credit will likely be negatively impacted during the course of the program, but it is important to remember that our program is designed to help you pay off your debts in a quick time frame in order to allow you to move on with your life. In all likelihood your credit has already been impacted by the amount of debt you are currently carrying when compared to your income; paying off the debt is your most direct path to improving your credit score, even if it dips temporarily while you are in the program. Once you complete the program, you will be in a much stronger position to build up your credit for good.
