Trust One Debt Relief Program

An Alternative to Consumer Credit Counseling, Bankruptcy or a Debt Consolidation Loan.

Our Debt Settlement Program can help you get out of debt in no more than about 12 - 48 months, and debts can be settled for a lot less than you owe.  If you are experiencing a financial or personal hardship that is preventing you from paying your bills, the five most generally accepted debt consolidation options you have are:

1. Continue minimum monthly payments to credit card companies.
This option could take over 30 years to pay back, costs thousands of dollars in interest alone, and requires you to pay back over three times what you now owe. This is the slowest, most costly, and most economically disadvantageous way to get out of debt (see below for more information). Keeping high balances on your credit cards could affect your credit in a negative way and make it more difficult to obtain a home loan.

2. Debt Consolidation Loan.
This option only works financially if you have at least a good credit rating and considerable equity in your home. If you have a very large debt burden and have been late on just one payment, it is likely that your credit may be impaired. Also, with this option, you do not get out of debt; you only shift it from unsecured debt to secured debt. While a debt consolidation loan coupled with our debt settlement program provides a very powerful solution, debt consolidation alone does not settle your debt; it only shifts it from one place to another.

3. Consumer Credit Counseling (CCC).
Consumer credit counseling programs can take up to 6 years or longer to complete and your debt is not reduced. You still pay back 100% of the debt you owe plus interest. In addition, if you miss just one payment, you could be dropped from the program. Consumer Credit Counseling Companies, on average, have high rates of client cancellation, which does not bode well for their delivery of successful debt management programs (see below for more information on CCCs).

4. Bankruptcy.
While bankruptcy is a legitimate route to get out of debt, it very negatively affects credit for 7-10 years and can be a very unpleasant experience emotionally. In October 2005, new congressional legislation made filing for bankruptcy more difficult and burdensome. A Chapter 13 bankruptcy payment plan can be higher and last longer than the alternative debt settlement program.

OR

5. THE Debt Relief Program
This is one of the fastest, most effective ways to settle your debt at a fraction of the cost. Trust One Debt Relief can not only settle your debt for much less than what you owe, but it also enables you to complete the program in as little as 12 - 48 months. Our program is custom-tailored to provide you with one low debt settlement program payment, help you deal with your creditors, and settle your debts fast. Typically, we negotiate your balances to significantly less than what you owe.  

Your actual results will vary depending on a variety of factors, including your current balances, how much you pay per month, and the amount that your creditors are willing to settle for.

Debt Consolidation Loan
To be approved, you must have the ability to repay a larger home loan and also have an acceptable credit score. Even if you did qualify, without debt settlement combined, your situation would most likely get worse. Rather than helping you to eliminate debt, a consolidation loan may increase your debt burden without debt settlement combined. Here are some more facts that you might not know about debt consolidation loans:

• You must qualify. Those who qualify for our combination program are top candidates
• It requires ownership of a home with considerable equity
• Closing costs are usually required upon closing or built into the interest rate
• Missing payments could cause you to lose your home
• You would pay back the entire balance of your credit cards, plus interest
• Payback can be 10-20 years depending on debt balance and your ability to pay
• You are paying off unsecured debts in favor of a new secured debt
• The debt consolidation loan reduces the equity available in your property for future use

Continue to Make the Minimum Payments or Don't Pay Anything at All

• You would pay almost 50% of your original balance in interest costs alone over the first 36 months. Your principal balance would barely be touched
• Credit card interest rates are usually 15% or higher and creditors are allowed to raise rates at any time unless otherwise stated in writing
• If your credit card interest rate is 25% or higher, it is almost impossible to pay off your debt by making the minimum payments
• With a high credit card interest rate, it would most likely take you between 20 to 40 years to be out of debt - and that's if your balances doesn't increase
• Until you pay off high balance debts, your ability to be extended credit becomes substantially more difficult.

If you have already stopped making payments to your credit cards or other creditors, you are negatively affecting your credit without reducing any of your debt.

To see if you qualify for debt settlement, please fill out our savings quote form for a free consultation.