Thanks for the positive comments Monty and Matt. I know Matt really gets “it” because the mortgage community needs its mortgage agents to be licensed, pay E&O insurance etc. etc. to arrange mortgages for people.
Imagine a “consultant“coming on here telling you they don’t need to be licensed to arrange mortgages for consumers.
Joe, to answer your questions we have two programs. One is a monthly one (flat fee model) and the other is our FastTrack (percentage of what you save) program. You can also click here to learn more:
How Debt Settlement Works
First things first, you must owe a minimum of $10,000 in unsecured debt to qualify for our plan. The monthly program creates a budget and is appropriate for those that have debt but lack the financial resources to pay a lump sum settlement right away. As far as I know we are the only debt settlement company in Canada that has invested in software, training and people to manage a monthly plan over 36 months. Everyone else out there, in Canada at least, only settles debt like our FastTrack program.
Our FastTrack plan is appropriate for those that have debt AND have access to a lump sum of money right away. Settlement money from a FastTrack can come from a mortgage refinance, the sale of assets or family/friends pitching in.
What Pros/Cons you need to know about our debt settlement:
Pro’s - Expect to get out of debt for less then you owe today in 1-36 months, all fees included. That is a huge feature that is more attractive then the credit counselling or bankruptcy deal.
Con’s – Expect creditor’s to be irritating and call/send collection letters, don’t expect your credit rating to improve until you settle your debts off and lastly expect to be threatened with legal action and even though its rare, possibly answer a lawsuit. You do owe the money after all so until a settlement is reached and paid, our involvement doesn’t change that fact.
The Cons on a FastTrack plan are really a moot point because the timeframe to settle the debt and move on with your life is usually within 3-6 weeks so it’s not even an issue.
We are a full disclosure company and we talk about all aspects of having your debt settled we do that so no one is ever surprised. We aim to under promise and over deliver. We are aware that the Con’s are an issue and have processes and procedures in place that minimize the Con factors. These steps are trade secrets so I won’t talk about that.
Our fee is simple on a monthly plan. It’s 15% of the total debt enrolled into the program and a $29.99/month maintenance fee while in the plan. A client with $20,000 of credit card debt would expect to pay $3,000 to us to negotiate settlements and if we average 40-50% settlements ($8,000 - $10,000) then their total cost including our fee would be around $12,000-$14,000 with the maintenance fee if you enrolled for 36 months.
If you are a Fast Tack client expect to pay between 15-30% of what we save you. It varies because there is more or less work involved depending on the list of creditors owed, type of debt and whether or not and if they have any judgments outstanding against you ( i.e. garnishments, liens etc). On a case by case basis I have also approved a flat fee.
Our service guarantee: We also have a universal service guarantee, no settlement = no fee.
I’m not really on here to push my company, my presence is for forum discussion and to help people, which is ultimately for link building purposes, so if anyone has further questions, or wants a free quote, then please contact our debt consultants at (866) 833 1992 and press option 1 for an available agent. You can also click my signature link below and fill out a request online for a consultation and someone will get back to you within a day.