Debt Relief Services

The Progressive Difference!

It is our commitment to ensure that Progressive Debt Relief has the ability to meet your individual needs, through service diversification.

Many companies only offer one service, which they try to force feed to all their potential clients. Many times these companies feel like they can not arm their potential customers with all of the facts. Some consumers even receive false information, in lieu of a sale. We are committed to objectively evaluate your case, give you the pros and cons of your options and offer a consolidation solution that works for you. In order to accomplish this objective our company has to offer our potential clients service diversification. Here are the consolidation options we offer to our clients:

Debt Settlement

Objective: To save money, settle and resolve your debts for as low a percentage on the dollar as possible.
Pros:
 

1. The monthly set-aside amount may be much more affordable.
2. Can be an alternative to bankruptcy, which is more difficult with bankruptcy reform in place.
3. Affords you professional representation during a critical financial period in your life. (PDR does not provide legal advice or representation.)

Cons:

1. You might have to experience normal creditor collection activity associated with delinquency. PDR does not have the legal authority to prevent all creditor calls.This activity may include creditors calls, dealing with a third party collection agency, and in a few cases, a summons to appear before an arbitrator to find a resolution.
2. Persons participating in PDRs debt settlement program run the risk of being sued for nonpayment. In this event, remedies may include judgments, liens, and wage garnishments. Keep in mind PDR will do anything within its capacity to help resolve your accounts, but each creditor makes their own decisions.
3. Creditors may refuse to settle debts. Every situation is different and PDR cannot guarantee that all creditors will agree to negotiate and/or settle.
4. If you do not make your minimum payments your creditor may raise the interest rate on your account. Your account balance will continue to grow as your creditor adds accrued interest, late fees, over-limit fees and penalties. Your balance will continue to grow until a settlement is reached with your creditor; and, if negotiations are unsuccessful, you could be called upon to pay the entire balance.
5. If you do not make required minimum payments to your creditor you may be breaking the terms of your agreement with them and your actions will probably be reported to consumer reporting agencies as late, delinquent, charged-off or past due balances. This is true anytime you fail to make your minimum payments in a timely manner. After settlement your creditor may comment that the account was “settled for less than the full amount” on your credit report. Depending on the condition of your credit report at the time of enrollment, debt settlement may have an adverse effect on your credit report and credit score.

Settlement may be right for you if...

You are current, but dependent on your credit cards to help offset your monthly household expenses so you can remain current with your cards, and have no accessible equity or assets to help manage the situation. You have just fell behind and can no longer afford to pay a regular monthly payment to your creditors, similar to when you were current. You are behind to the point that you are now dealing with a third party collection agency, or law firm. The choice is yours!

 

Debt Management Plan

Objective: To help the client get out of debt by taking advantage of creditor benefits through monthly payments to creditors eventually leading to payment in full.
Pros:

1. Usually a much lower interest rate, on a creditor by creditor basis, is made available to the potential client.
2. In many cases, if you are behind, your account may be re-aged back to a current status without having to make up any back payments or late fees, after three or more consecutive on time payments.
3. Simplifies things by giving one simple payment each month, and a timeline to have your bills paid off.
4. Also the program does not have a negative impact on your FICO score. However, your participation in a debt management program may be noted on your credit report. This may impair your ability to secure credit.

Cons:
 

1. The payment amount and timeframe is longer than settlement in most all cases.
2. This increased financial pressure may not be feasible, if the client does not have the ability to use their cards.
3. Even if your accounts are re-aged, negative information from past delinquincies or late payments weill remain on your credit report.
4. Most creditor guidelines offer no flexibility in respect to reduced payments, and deny benefits in the case of any missed payments. Although the program does not impact your FICO score, it could be a factor in determining whether or not you get approved for financing. Your participation in a debt management program may be noted on your credit report. Some lenders may view this notation negatively, and thus impair your ability to secure credit. Some consumer credit counseling programs place a stipulation on your credit which does not allow financing to be approved for the duration of time you are on the program.
5. You might have to experience normal creditor collection activity associated with delinquency. PDR does not have the legal authority to prevent creditor calls.
6. Not all creditors may participate in the debt management program.

Debt Management is right for you if...

1. You are current, can make minimum payments on your cards and pay regular monthly bills without using the cards, but can not get the principal balances down because of high interest rates. The choice is yours.
2. Had an emergency that caused you to fall behind, but can now afford regular monthly payments and just need help getting back to a current status. The choice is yours.

Refinance/2nd Mortgage

Objective: To use equity in your home to pay off your unsecured debts.
Pros:

1. A quick way to ease pressure from mounting credit card debt.
2. Usually does not have a negative impact on your credit score, or your ability to get financing.
3. Creates possible tax breaks. (Consult your tax advisor for information concerning your specific situation).

Cons:

1. Increases your financial risk by securing your unsecured debt with your mortgage deed.
2. May have to pay a high commission to a broker or loan officer. The amount of money you have to pay back is usually substantially more than a debt manamgent or settlement program.
3. Weakens your financial portfolio by using an asset to pay off revolving debts.
4. Leaves you vulnerable, because you cash in an asset that could be used to handle a more urgent emergency.

Refinance is right for you if...

1. You are current with your bills, still have a relatively high credit score, but can not handle the monthly minimums on your revolving debts without using your cards.

Take care of it yourself

Objective: To pay off your unsecured debt load without taking advantage of any third party service or loans.

Pro:

1. No fees or commissions to pay

Cons:

1. With no benefits and no professional service your situation could get worse over time.
2. Many try to handle debt issues on their own because of fear and denials not objectivity and circumstance.
3. Some will not exercise the discipline necessary to resolve their outstanding revolving debts.

You should handle your debt issues by yourself if... You can afford the monthly payment on your revolving debts and your interest rates are low.

A Different “Bottom line”

Ever been involved with a company that made a lot of promises on the front end (sales process), but could not be found when the product or service they promised was supposed to be delivered? (customer service) Part of the Progressive Difference includes a company committed to the client after they have chosen to enroll in our program. When it comes to client satisfaction, we do not cut costs. Our business model calls for investment and training, not cost cutting tactics that lead to a high profit margin in the short term. Our bottom line is the clients we represent. Here is how:

Client Relations

Ever had a question or concern, but had a difficult time getting someone on the phone? How about getting an agent on the phone that seems insincere, uninformed, and more interested in ending the call than answering your questions? This will not happen with Progressive Debt Relief. We are committed to addressing your concerns and answering your questions quickly, professionally and honestly. This customer service goal is achieved by staffing the right amount of customer service representatives with the proper credentials, and intensive, continual training. Most companies focus on hiring as few customer service representatives as possible while paying as little as possible. This is a toxic combination for the client that leads to a poor experience and a potential failed outcome.

Creditor Relations

The biggest problem many consumers have with debt consolidation companies denotes the lack of communication between their creditors and the consolidation company. Many companies do not even attempt to communicate with the client’s creditors, because of the required investment in customer service. They wait until there is enough money to potentially settle a debt before they initiate negotiations. This upsets most creditors, who if made aware of the true circumstance, would be more apt to cooperate. This breakdown in communication creates an unpleasant experience for the client, and hinders the negotiation process by impacting the consolidation company’s credibility with the bank in question. Progressive Debt Relief is committed to communicating with your creditors, therefore limiting creditor calls and increasing our credibility with the banks in question.

Negotiation

Many people envision negotiation as two hard nosed business men trying to leverage the best deal possible for their personal business interests. Although, there are elements of settlement that call for utilizing leverage, it is only one facet of many that are important when negotiating with banks. Credibility, continual communication, knowledge and professionalism represent the most important qualities a negotiator must have when interacting with your creditors. In respect, Progressive Debt Relief is interested in the truth of your case. When we establish the truth, we can take that resource to your banks with conviction and integrity. If the banks understand that your situation is legitimate, and you are doing the best you can, then a successful outcome is much more likely. Progressive Debt Relief also hires and trains professional and knowledgeable negotiators, that can speak to your banks with skill and purpose. Creditors prefer courteous professionals who communicate with knowledge and deal in truth. Also, many consolidation companies label the banks as the enemy in direct conflict with your interests. This creates an unprofessional environment, which agitates your creditors and creates roadblocks during negotiation. Progressive Debt Relief helps the creditors understand that it is in their best interest to resolve these debts in a practical and affordable manner. The end result creates a win-win for both you and the banks in question.

Our Bottom line

When choosing a debt consolidation company to assist you with your debt load it is important to account for the three levels of customer service. Progressive Debt Relief is committed to creating and maintaining a quality customer service department through investment, training, and a philosophy centered around credibility and integrity. A properly trained and staffed customer service department creates a favorable outcome for the client and more cooperative creditors during the process.

This commitment to the three tiers of customer service, along with service diversification represent the foundation of the “Progressive Difference”.