Process Overview
Discover how Debt Point progams work.

D ebt Point places clients in an individually customized program for the optimal solution to lower what they are spending, deal with creditors, and resolve debts in the shortest time possible.  Unlike most other companies, we are not a "one size fits all" solution.

Typically, settled accounts are negotiated down for significantly LESS than what is owed.  Plans are customized for your unique situation and typically estimated between 24-48 months, depending on your budget.  We also help you determine a monthly settlement savings plan that you can afford.

An important aspect of our progam is that upon successful completion, resolved accounts will be SETTLED IN FULL, meaning you owe absolutely nothing more on those accounts.  The creditors are required to report these accounts satisfied with a "0" balance on your credit report, which helps your debt to income ratio and eliminates the accounts reporting as outstanding debt.  One of the most important aspects of your credit report is your "debt to high credit ratio" as too much outstanding debt can actually be very detrimental to your credit report.   If you have accounts that are "maxed out" then you are affected.

If you are struggling, see if one of our programs is right for you by giving one of our freindly debt consultants a call.  You may also use the contact form or email us and one of our debt consultants will contact you to discuss your specific situation at no cost or obligation.

 

Debt Negotiation Steps

Watch How Our Process Works

 

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Step-by-Step Overview

  • Step 1: Free Consultation

     

    Call or e-mail us for a free consultation.  We will assess your financial situation and determine your potential for debt negotiation, which program is best suited for your needs and estimate your potential savings.  If debt negotiation is not right for you we will offer to refer you at no charge to pre-screened providers for credit counseling services or bankruptcy.

  • Step 2: Work with Consultant

     

    If you are qualified for debt negotiation, we will help you to determine a comfortable monthly amount to save toward negotiated settlements.  This amount is typically significantly less than your current minimum payments.  All program fees are included in this payment and the amount saved is used for settling accounts at a reduced amount (currently your minimum payments cover mostly just interest).  These funds are saved every month in a new account that we help you set up, but which you control.

     

  • Step 3: Enroll

     

    Once you enroll you must close all accounts that are being negotiated and you are requested to avoid using credit cards while in the program.  The program will not work if you make monthly payments to your creditors while enrolled.

  • Step 4: Negotiations

     

    Your creditors are negotiated and settled individually.  Negotiations attempt to reduce the debts as low as possible.  You are updated about the progress and after an account is settled, and will receive a "Good News" notification providing details of the settlement.

  • Step 5: Graduation

     

    After a settlement, your creditors are required to report to the credit rating bureaus that your accounts are satisfied with a "0" balance. Upon graduation, you will receive a graduation packet which includes copies of all settlements from the creditors and you will be provided information on how to review and update your credit reports for free.  Congratulations, this is a major turning point in your life!

    • After the Program: If you are interested in credit report monitoring, purchasing a home, or related financial services products - we can put you in touch with a reputable provider to assist you.  We want you to stay debt free and be on the path to building wealth.  Remember, wealthy people earn interest while most others pay interest.

Estimates are based on prior results. We do not guarantee that your debts will be lowered by a specific amount or that you will be debt free within a specific time. We do not assume consumer debt, make monthly payments to creditors, provide tax or legal advice or credit repair services. Read and understand all program terms prior to enrollment. Failing to make monthly payments to creditors may result in an adverse credit rating impact, increased interest rates and fees added to balance owed and increased collection efforts including potential legal action by creditors. Results vary due to individual circumstances and ability to fund the program. Programs represented available to Canadian residents only. Not available in all provinces.