FAQ

• Q: What is credit counseling?
• A: Debt Free offers a debt management service whereby we customize a single payment from the client to Debt Free that will cover disbursements to all creditors, and eliminates the client’s debts through consistent payments.
• Q: How will this plan affect my credit rating?
• A: We do NOT report to any credit agencies. Only your creditors can report your actions to the credit bureaus. By making payments promptly most people may actually improve their credit rating. For more information on how this affect your credit score, please visit www.myfico.com.
• Q: What can be put on the plan?
• A: Most all unsecured debt can be included on our plan. This includes major credit cards, department store cards, gas cards, medical and hospital bills and unsecured loans. Secured loans such as house payments and car loans CANNOT be included since they have equity behind them.
• Q: How do I track my debt management progress?
• A: You will receive monthly statements from us showing your payment disbursements. In addition, you may access your account online to view all transactions and track your payment history. You will also receive monthly statements from your creditors showing balance reductions, payments, and any concessions. We do not receive copies of your statements from your creditors and will not know about any problems unless you bring them to our attention.
• Q: Will the credit account that I place in the program be closed?
• A: Yes, all accounts included in the program will be closed by the creditor and will no longer be available for use. We do recommend that all your unsecured debt be placed on the program and that you avoid incurring additional debt.
• Q: Can you help me if I am close to bankruptcy?
• A: Yes, our program offers you a positive alternative to bankruptcy. Remember, bankruptcy can have many adverse consequences.