FAQ

Payment Plan

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Published on Sunday, 14 September 2008 17:49
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We can schedule a monthly payment plan that works for you and your family.

They will then be able to determine how long it will take for you to become debt free. Your monthly payment will be placed in your bank account and funds will continue to grow until each of your debts can be settled and paid. Once a settlement agreement has been reached with a creditor, and that agreement has been secured in writing, payment will be made from your bank account only with your express authorization.

Upon enrolling in the program, Capital Debt Resolution will contact each of your creditors and inform them that we are representing you, and that all of their communication is to be done with us. After a short period of time those annoying collection calls will end! Our fee is based upon a percentage of the unsecured debt you put into the program. No other charges or fees exist. You will know up front how much you are paying and it never changes.

Capital Debt Resolution is here to get you out of debt, to give you financial freedom and improve your quality of life. We work for you! Getting out of debt is the first step in securing financial freedom.

Frequently Asked Questions

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Published on Wednesday, 11 October 2006 10:00
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How can I afford to pay for your services if I'm already in debt?

For Starters CDR is all about negotiating a fair settlement with those creditors with whom you have unsecured debt. By means of an affordable, structured savings plan that is created based upon your budget, and not ours, the funds from YOUR client owned, F.D.I.C. insured account are used towards debt negotiations and settlements.

What's the difference between unsecured and Secured Debt?

Simply put, unsecured debt is money owed without collateral. Some examples of unsecured debt might include:

  • Credit cards
  • Lines of credit
  • Personal or signature loans
  • Medical bills

The other type of debt people usually have is called secured debt. Secured debt is money that was borrowed with a condition that if you fail to make your payments one (or more) of your possessions may be seized and sold by the secured creditor. Some examples of secured debt might include:

  • Mortgage(s)
  • Car loan/lease
  • Financing contract (e.g. furniture)

secured versus secured debt?

What type of results can I expect?

CDR negotiates a fair settlement with its client's creditor(s) for resolution of unsecured debt owed-subject to both client and creditor approval. Following the completion of a client's personalized debt settlement program, DMB's typical client has seen over 50% of their unsecured debt written off.

Individual results may vary based on ability to save funds, amount of debt, willingness of creditors to negotiate, and the successful completion of all program terms. (DMB's fees not included in savings disclosure). Program does not assume or pay any debts, nor provide legal or tax advice. Prudence should always be taken by consumers when reviewing contracts and disclosure materials. DMB's services not available in all states.

If I enroll in your debt settlement program, will my credit score be affected?

Your credit score is likely to drop during a debt settlement program. However, following the successful completion of DMB's debt settlement program, which will ultimately result in the settlement of debt owed and an improved debt-to-income ratio, your credit score should improve following an improved financial conscientiousness.

DMB Financial also realizes that consumers who do not affectively deal with reducing their overall debt load in a timely manner, also run the risk of negatively affecting their credit score. So, while a good credit score is important, so is reducing ones debt. In the end, a particular credit score may be somewhat irrelevant unless credit is available to use responsibly.

How much does your debt settlement program cost?

Clients will pay an enrollment fee equal to the first two monthly payments of our agreed upon personal debt settlement program. The client also agrees that DMB Financial is entitled to a fee in the amount of twenty five percent (15%) of the difference between the creditors claim (debt) amount and the amount negotiated by DMB Financial. There is also a nominal monthly administration fee of $29.95, which is included in the monthly savings amount for every month that the Client is enrolled in the program.

Who will have access to my personal and financial information?

In order to provide the necessary services promised through our contractual agreement, DMB Financial will share non-public personal information with vendors and processing companies only when necessary. For instance, CDR may provide (our third-party processor) with the information necessary to set up your personal F.D.I.C. insured special purpose savings account. With regard to confidential information, only select CDR personnel whose purpose is to serve our clients' best interests will have access to this information.

Can you stop the creditors and/or debt collectors from calling me at home and/or at work?

Because DMB Financial's debt settlement services are all about results, the Company has been successful in reducing the number of harassing calls that our clients receive from their creditors. DMB encourages its clients to familiarize themselves with the Fair Debt Collection Practices Act, (FDCPA), that seeks to protect consumers from abusive debt collection practices by debt collectors.

If CDR cannot negotiate a settlement with any one of my accounts, am I still charge a settlement fee?

No. In the unlikely event that a creditor refuses to negotiate a fair settlement on a particular account, CDR will not charge a settlement fee for this account.