Donaldson Williams Credit
Services
Offering
An Honorable Alternative To
Bankruptcy
Debt Settlement Misinformation
Quite a significant number of people find themselves in a situation where they’re faced with mounting debt and not nearly enough income to meet their monthly financial obligations. Obviously, those individuals faced with financial difficulties have no choice but to find the best solution to become debt-free, and put their money worries behind them. Many find their search leading to debt settlement, which has been growing in popularity in recent years.
Unfortunately, there happens to be a good deal of misinformation floating around, regarding the process of debt settlement, and if you’re considering this route it’s important to be well-informed. For instance, I recently read an article whose author claims that once you pay your agreed settlements in full you’ll have a “good credit rating.” The author should have gone on to explain that, yes; your credit score will improve, but only after your accounts are reflecting zero balances on your credit report. This process is not instantaneous, and can take several months. While I’m a supporter of debt settlement for individuals who are on the brink of bankruptcy, I also think it’s important to know the facts before you make your final decision regarding the best way to resolve your credit accounts.
I also recently came across some information that happens to be a complete fabrication. One author claims that debt settlement companies convince your creditors to “re-age” your accounts so that they appear current. This is simply not true, nor has it ever been true. Debt settlement companies simply negotiate with your creditors to settle your accounts for less than the full balance – usually 50% or less. There’s no need to re-age the account (nor will creditors agree to do so) during the process of debt settlement.
I’m sure you’ve heard the consequences relating to debt settlement, such as a possible tax liability, as well as a decreased credit score. Both of these are indeed possibilities, and you can learn more about income taxes as a result of debt settlement by clicking here. If you want to learn more about what affects debt settlement will have on your credit score, click here.
So that you can breathe a sigh of relief, it’s important to conduct sufficient research so you’ll be well-informed before jumping into a program with which you’re not familiar. There are several debt settlement companies that don’t require large up-front fees, or even require that you make monthly payments to a trust account. These same companies will work on a contingency basis, meaning you don’t pay for services rendered until a satisfactory agreement has been reached with your creditor. Beware of companies who seem to be more interested in collecting your money than legitimately helping you to resolve your finances and overcome your financial hardship.
If you should have any questions, or need assistance, feel free to contact us. For a free consultation, click here. Remember, Donaldson Williams, Inc. charges absolutely no monthly fee and no set-up costs because we work on a contengency basis, and you don't pay a fee for our services until after a satisfactory settlement has been reached with your creditor(s). |
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Providing
Customer Service
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"I'm not sure how you
work your magic, but thank you for everything you have done.
I would highly recommend your company."
(C.C.
Attorney)
"Marie, we can't thank
you enough for everything you have done for us. We
had a
lot of question
throughout this entire process and you have been so patient and
understanding. We never felt alone because we always knew we
could call or send an email and you would get right back to us.
Excellent customer service and an incredible end result. We
really do appreciate it!"
C.E.H (Insurance
Adjuster)
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been able to help. Thank you."
G.B.
(Educator)
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and attention to get this
outcome- we truly appreciate your
help and kindness."
M.M. (Regional
Manager)
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would recommend your company in a heart beat to
anyone that has been experiencing
problems such as our own."
J.M. (Q.I.
Supervisor)
“Thanks so much for all you did for us. If we hadn’t found Donaldson Williams we would have surely filed for bankruptcy. You were straightforward from the beginning and we ended up with better results than we thought possible. Every one of our phone calls was returned and your professionalism proved to be unmatched. Again, thanks for saving us over $30,000 and helping us avoid bankruptcy.”
(E.Z. Carpenter)
“Hi…I just wanted to drop you a line to let you know that we appreciate all you did for us during the worst financial crisis we’ve ever faced. I’m so glad we found you and decided to hire you…your dedication to helping us through a difficult time literally saved us thousands of dollars, as well as allowed us to end our financial problems with dignity and ease.”
(D.D. Communications Supervisor)
“Thank you for your help and your patience. Not only did you save us $27,000, but you were very patient with our questions and worries. You really helped to get us through a very bad financial period. Thanks again!"
(J. G. Operations Manager)
"Thanks to you I can sleep again and I can answer my phone again. You were so helpful and kind and there aren't enough words to describe my appreciation. The savings I gained through your program was something I wouldn't have thought could be achieved..."
(E. H. Teacher)
"Enclosed is a check for my final account. Thanks for all your help...it's finally over, but I wanted to let you know that we're so happy we chose your company. We started out scared to death, and here we are paying off our last account. You've been great through this whole mess, and we want you to know that we'll gladly recommend you to other people in the same situation."
(D. H. Administrative Assistant)
"Preston and I cannot thank you
enough for all your hard work (HFC-especially) in helping us
move towards debt freedom. A weight has been lifted and we are
finally free. Thanks again."
((P.G. Systems
Technician)
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for being a caring person and having compassion and empathy
there are so few left in this crazy world. I know you will
have an abundance of blessings in your life. You have
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like we were sent an angel when we met you. Truly I
know it sounds cheesy but it's the honest truth from
the bottom of my heart thank you."
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