Questions to ask Yourself

Debt Settlement is a viable option to help you alleviate your debt. However, if you choose the wrong company, you may find yourself in worse shape than you were before. It is critically important that you choose the right company. Like any other industry, there are good companies and there are bad companies.

Here are some questions designed to assist you in making the right decision regarding which debt settlement company to choose. If you don’t know what to look for it’s easy to get ripped off.

1. Are you being paid commission?

Salespeople may leave out vital information if they are paid by commission. If they say yes – Red Flag!

National Fidelity Financial representatives are not paid by commission. They are paid to give you honest answers and solutions to your debt situation.

2. Do you have a money back guarantee if I change my mind?

Don’t accept anything less than a full 30 days. Anything less - Red Flag!

National Fidelity Financial provides a full 30 day money back guarantee if you are not happy with our service for any reason.

3. Can you stop my creditors from calling me?

It is not possible to stop all creditor calls. If they say they can - Red Flag!

National Fidelity Financial will take every action possible to reduce creditor calls but can not guarantee to eliminate all calls.

4. Will you be making monthly payments to my creditors?

Settlement companies do not make monthly payments to your creditors. If they claim to do so or if they give you the impression that they do - Red Flag!

Creditors are not paid until after a mutually agreeable settlement is negotiated and approved.

5. Can I get sued?

The answer to this question is yes; it is a possibility. If they say anything other then that - Red Flag!

National Fidelity Financial will continue to negotiate a settlement even if a lawsuit is filed.

6. Will a Debt Settlement Program have a negative effect on my credit report?

The answer to this question is yes. All debt settlement programs will have a negative impact on your credit report. If they say anything other then that - Red Flag!

Your number one concern should be to alleviate your debt. National Fidelity Financials’ number one goal is for you to become debt free as quickly and inexpensively as possible.

7. Will a Debt Management Plan (DMP) have a negative effect on my credit report?

The answer to this question is NO. Debt management plans do not have any negative effects to your credit score.

8. When can I expect my first settlement?

Your first settlement typically will be made well within the first 12 months of your program depending on the size of the debt and your ability to save. Any longer than 12 months - Red Flag!

Many National Fidelity Financial clients begin seeing settlement offers in as little as 90 to 180 days, and sometimes sooner.

9. Can you tell me exactly how much this will take and exactly how much this will cost?

Debt Settlement is not an exact science, and there are too many variables to quote exact time frames and figures. Many companies will tell you anything to get you in the door. Any attempt to provide exact information would be a - Red Flag!

National Fidelity Financial provides estimates only of time frames and costs. These estimates are based on current company averages..

10. Are there tax consequences I should be made aware of?

The answer is yes. The debt amount forgiven may be a taxable event. This should be explained. If not - Red Flag!

A savings of over $600 may or may not be taxable depending on your individual and unique situation.

11. Who is holding my money while I’m waiting on a settlement?

Your funds should be held at a third party escrow company in an FDIC insured trust account. If the company tells you to save your own money or to send the funds to them - Red Flag!

National Fidelity Financial recommends the escrow services provided by Global Client Solutions. Your funds are held in an FDIC insured trust account in your name which you have access to at all time. Remember, it’s your money.