Debt Rez takes a comprehensive approach to analyzing each our client’s financial needs. We will discuss your debt level, financial hardship, credit needs and what your financial goals are over the coming years. We work with you on preparing a budget to determine how much you can afford to apply towards reducing your debt and we look for opportunities to save you money on your monthly living expenses and suggest cost savings during that process. To get started we request that you forward your most recent copy of your creditor statements to be used for our free analysis. With all of this information at hand we work with you to explore your various options to select a program that is the best fit for you to achieve your goals.
We offer a Debt Management Plan where we have pre-negotiated reduced interest rates with most credit providers. The rates vary per provider so we input your debts into our database and compute your new proposed rates which we compare to your existing rates. For most creditors we have the option of including those in your plan where the new rate is lower than what you are currently paying or exclude it if the proposed rate is higher. In some cases our clients may have a very low teaser rate with their creditors for a limited period of time. The rates we convert them to are more permanent and will typically lead to lower payments and a shorter payoff period.
You save money through our Debt Management plan in a couple different ways. You save money by lowering your monthly payment and locking it in at a fixed level. Additionally, by significantly reducing your interest rate you can save thousands of dollars over your payback period. For example if you have $20,000 in debt and are paying a 20% interest rate which we were able to reduce to 7% we could potentially save you $200 a month and over $14,000 from what you would pay if you continued paying just your monthly minimums. As you can see, the savings are tremendous!
Debt Rez and its affiliates do not report to the three credit reporting agencies (Equifax, Experian and Trans Union), so we do not report your participation in our program. Often times you will find that credit providers will notify the credit bureaus that you are participating in a debt management or credit counseling program; however, this notification does not impact your credit score. The notation, viewed as neutral by most banks and lenders, may be used directly or indirectly when making lending decisions. Some lenders may view the notation as a positive and some as a negative. Remember, though, resolving your debt issues can only have a long term positive impact on your credit.
It is difficult to predict what your payment will be without knowing who your creditors are, as each creditor has unique and multiple benefits on the program. As a guide, you can figure on 2 to 2.5 percent of your total debt as a monthly payment, or about $250 per month for every $10,000 in debt. Your payment could be much less, however, so please check with your Debt Analyst before making a decision.
No. To obtain these kinds of benefits from creditors, they will not be willing to let you keep the accounts open. While they will return to a good standing once they are re-aged in the first three months, the goal is to help you become free of your unsecured debt. That cannot happen if the accounts remain open and in use.
At Debt Rez we only employ the most professionally trained debt analysts with many years of experience in dealing with consumer finances. We have developed a small company approach to really taking the time to get to know our clients and determine each individuals needs such that they feel like they are dealing with a neighborhood service provider. At the same time we have affiliated with most professionally run national service providers in the industry in order to offer a state of the art technology based approach and the long lasting creditor relationships needed to ensure that our client’s goals get achieved and all of their questions and concerns are accurately addressed and answered.
In a time where the whole debt management industry has been through significant scrutiny we have a adopted a full disclosure approach to make sure our clients completely understand how our various programs work in order to make an informed decision. While this may sound like a basic business principle it has unfortunately not been fully adhered to by other companies offering similar services. You can take comfort in knowing that the founder of Debt Rez, LLC is a CPA with over 17 years of financial services experience and has been working in the Debt Relief industry for over 8 years.
Debt Rez, LLC constantly strives to improve the efficiencies and effectiveness of our debt resolution programs in order to better serve each and every customer. Our genuine concern for our clients is reflected in the lasting results we consistently achieve. Enrolling in any Debt Management plan is a two way partnership and you can be sure Debt Rez will hold up our end of the agreement and thus the ultimate success of our client is dependent on their ability to continue to make their monthly payment and stick to the their payment plan we set up for them.
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Debt Rez, LLC is a member of (TASC) The Association of Settlement Companies. This trade association has developed a standardized industry disclosure for consumers.
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