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Ease Your Financial Pressures With Our Debt Settlement Program!
How Does the Debt Settlement Program Work?
Preferred Financial Services is a debt settlement company. We will alleviate your debt through negotiating settlements and pay-offs with your creditors. We are here to eliminate your debt efficiently and not prolong your pain of paying fees and interest for the next 20 years.
With our Debt Settlement Program, you deposit your monthly payment into a Program Checking or Savings account. This Program Account is a trust account in your name, supplied by Global Client Solutions. Preferred Financial Services would not be making a regular monthly payment to your creditors, as we are not a Consumer Credit Counseling company.
Once the Settlement Department has negotiated a settlement with a creditor, one of the Settlement Representatives will contact you, and review the settlement offer with you. As most settlement offers are time sensitive, it is important to quickly return any communications you may have from us during the settlement review period.
The Settlement Department will track how much money you have in your Program Account, and will negotiate settlements based on that amount. Our trust account provider, Global Client Solutions, automatically updates client balances in our database on a daily basis, allowing our representatives to track the latest up to date balance in your program account.
In order for the Debt Settlement Program to succeed in the shortest possible timeframe, it is extremely important that monthly deposits be made into your program account on time. If you fall behind, it lengthens the time that you will be in the program and hampers the ability of Preferred Financial Services to obtain the best settlements possible on your behalf.
Who Qualifies For Our Debt Settlement Program?
Consumers who have unsecured debt over $5,000, with at least two or more creditors.
What Types of Debt Qualify?
Preferred Financial Services handles all unsecured debt. Examples include unsecured loans, credit cards, medical bills, bills that are in collections, and deficiency balances for both auto loans and foreclosed homes.
What Types of Debt Do NOT Qualify?
Types of debt we do not work with include taxes (federal and state), wage garnishment, car loans, home loans, secured loans (furniture, vehicles such as boats, ATV and others), payday loans, child support, alimony and mortgages.
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