Unsecured Debt Counseling
Q. When does Eagle One Debt Solutions begin settling my debt?
A. Once you have fully retained our services, you’ll begin to save money into your Special Purpose Account on a monthly basis. When we receive a fair offer from a creditor OR when you have saved an anticipated settlement amount (30% - 50%) of any creditor balance, we will begin negotiations on that account. When an acceptable offer is made we'll obtain a confirming letter from the creditor. We’ll then pay, settle and close that account. This cycle will continue to repeat with each creditor that you owe money to until you are completely debt free. However, we can only settle a debt once the full funds are available in your Special Purpose Account. Top...
Q. If I miss a monthly payment to Eagle One Debt Solutions, will I be dropped from your program?
A. No. We understand that circumstances may arise and we will work with you to get back onto your payment schedule. Just call our customer service representatives and we will be happy to help. Top...
Q. Are my creditors going to continue to call me?
A. We can notify your creditors and debt collectors and request that they stop contacting you. Creditors can continue to call but many will respect your decision to resolve your debts through our program. It usually takes about 30-60 days for the calls to cease or to be greatly reduced. If there is any contact, we ask that you keep a record and notify us immediately so that we can contact the creditor or bill collector. Our aim is to cease or reduce the annoying calls to your home and business while you are enrolled in our program. Top...
Q. Will my creditors continue to contact me by mail?
A. Your creditors may also attempt to correspond with you by mail, however, you will then immediately contact Eagle One Debt Solutions and report this correspondence. You do not need to forward each statement to our office, but be sure to open all mail and promptly mail or fax any offers of settlement or letters from attorneys to our Customer Service Department. Top...
Q. Will this program have a negative effect on my credit?
A. Remember, you are unable to pay your creditors and this is negatively affecting your credit report now. The negative effect on our credit profile could continue or worsen but once your accounts have been negotiated and settled, your creditors will report the accounts as "settled", "settled in full" or "paid as agreed". Top...
Q. How long will it take for me to become debt free?
A. It typically takes about 10-36 months from your enrollment in our program. This depends on your rate of savings and on your total unsecured debt load. . If your individual situation allows you to aggressively place money into your savings account then this will speed up the process of negotiation and settling accounts on your behalf. Top...
Q. How much does this program cost?
A. Our Debt Settlement Program costs are based on an individual basis and are determined by an Eagle One Debt Solutions representative and you. Your monthly payment will be determined by what you can comfortably afford to save on a monthly basis after meeting your normal living expenses. Top...
Q. What if my creditors won't settle?
A. This rarely happens. Through the negotiation process of offers and counter-offers a settlement is reached. Creditors realize that settlement is in their best interest especially if the other option is bankruptcy where the Creditor will in most cases recover nothing. Top...
