Frequently Asked Questions

The strategy and positioning of your debt for settlement start on day one. However, we can only settle your debt when enough funds are built up in your Dedicated Savings Account that can be used to make a term or full settlement. Your first resolution of debt typically occurs between 4-7 months from enrollment.

An account opened on your behalf is held with an FDIC-insured bank. During enrollment, we agreed on a monthly draft schedule based on your debt balances and budget. These monthly drafts are deposited into your dedicated savings account. Once you’ve accumulated sufficient funds in your dedicated savings account, our team of negotiators will be able to present you with the best settlement offer possible.

Resolving your debt in the program depends entirely on maintaining the monthly program draft schedule. Insufficient funds for the monthly program draft or repeated requests to delay the draft will result in cancellation.

Absolutely! We encourage it. The faster you can accumulate funds in your dedicated savings account, the faster we can negotiate a settlement!

No, using your credit card while enrolled in a debt settlement program is considered a “Bad Faith Purchase.” You have entered this program because you are in hardship and unable to pay your debt accounts. If you require a card, it should be left out of the program and used for emergency purposes only.

Fees will not be processed until a settlement offer has been negotiated and we’ve received your authorization to accept the terms.

A small monthly fee is assessed by the processor that manages your dedicated savings account. And a monthly fee for legal protection.

Once enrolled in the program, you will receive a Welcome Email with login instructions for your client dashboard. This dashboard will provide statements and updates on your account, which you can view anytime!

Once you’ve accumulated sufficient funds in your dedicated savings account, our team will contact your creditors to confirm the negotiated settlement offer. Your dedicated negotiations representative will reach out to you immediately after receiving the offer, requiring a timely response, as these offers are time-sensitive. Additionally, you can log into your Client Dashboard to view and approve settlement offers.

In a structured settlement, the agreed settlement figure is paid over a specified period of time. For instance, a creditor might agree to accept a $5,000 settlement, where you put $1,000 down and make payments of $500 over the next 8 months until the settlement total is paid.

You can submit an IRS form 982 with your tax filing to request that the IRS waive the amount owed based on your insolvency. Should you require assistance with this process, a tax accountant would be a great resource.

We highly recommend keeping copies of all your communications with creditors and collection agencies, including dates and times of phone conversations and what was discussed. If you’re told that a creditor of your enrolled debt account has not been in contact with our agency or that your creditor does not negotiate with debt relief agencies, request the name and identification of the creditor representative to whom you’re speaking and document it because this is one of several intimidation tactics that creditors are motivated to use, to prevent settlement of your debts. The Fair Debt Collection Practices Act (FDCPA) was created to protect you from intimidating collection practices.

Under state and federal law, you have the right only to be contacted in writing via the United States Postal Service (mail). To accomplish this, simply send a letter to the creditor or debt collector requesting that they only communicate with you in writing. (We can add your address if you prefer)

e Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from placing repeated or continuous telephone calls or conversations to you with the intent to harass, oppress, or abuse you. Creditors prefer to negotiate directly with clients because the use of pressure and other intimidation tactics will generally result in the client agreeing to a higher settlement offer than our professional team of negotiators would be capable of obtaining on the client’s behalf. Once you’re enrolled in the program and have successfully updated your contact information with creditors, we recommend zero communication with your creditors throughout the duration of the program.

You have legal representation through your Legal Plan. Immediately send the documents to support@libertydebtrelief.com, and call us to confirm we have received them. It is very important we receive these documents as soon as possible. Legal Documents have a strict time limit.